The Government proposes to assume 50% of the debt of the bankrupt toll roads to rescue them

The Government proposes to assume 50% of the debt of the bankrupt toll roads to rescue them

  • This has been proposed by representatives of the Ministry of Development and the Ministry of Finance to the six large banks in a meeting.
  • The proposal is to constitute the new national company of toll roads with the ten toll roads in bankruptcy.
  • This public company would only recognize to the bank about 2,400 million euros of the total debt of 4,600 million euros that add these infrastructures.
  • The toll radial collapse when not getting enough traffic from the highways.
Autopista de peaje Radial 5

Indicative posters of the Radial 5 of Madrid. FCC

The Government has offered to the banking creditor of the concessionaire companies of ten toll motorways with economic problems a reduction of something more than 50% (about 2,400 million euros) of the debt, amounting to 4,600 million euros , and the creation of a company with one hundred percent public capital to join these channels.

According to sources close to the negotiations, the proposal of the Ministries of Development and Finance to the six main financial entities involved in this process also includes creating a securitization fund that will issue 30-year bonds with a minimum return of 1%, a percentage that will also depend on the traffic of these roads.

The objective of this plan, which this Tuesday has advanced the newspaper La Vanguardia , is to avoid that the solution to the insolvency that these highways present affects the public deficit. The affected banks, BBVA, Santander, Bankia, CaixaBank, Banc Sabadell and Banco Popular, are expected to respond to this proposal before next Monday .

The constitution of this company would add to 22% of the total toll road network The constitution of this company would add 22% of the total toll road network and is the best solution to face a problem that should minimize the impact in the public deficit and avoid the declaration of State aid, point out the same sources.

Initially the Government had proposed to the concessionaires and the creditor banks the creation of a public and private partnership. Based on this initial idea, the residual value of these concessions would represent 20% of the company’s capital, which could be valued at more than 600 million euros, while the remaining 80% would be controlled by the State Infrastructure Corporation. Land Transport (Seittsa), a distribution that at first did not please all parties. This is the case of construction companies and concessionaires, who even claimed a 49% stake.

In addition, within the framework of the negotiations, Fomento did not refuse to even apply to these highways in bankruptcy to liquidation , a process that they recognized as being long and uncertain although not necessarily more expensive.

For its part, from Seopan , the employer association of large construction companies and now toll dealers, considered that the liquidation of these toll roads damaged the image of Spain, closed the national market to domestic and foreign investments and led to legal disputes lasting several years. Therefore, they demanded the creation of a public concession company to integrate ten toll roads as the least burdensome option.

From Seopan it became clear that companies have already lost 100% of their capital Also, from Seopan it became clear that companies have already lost 100% of their capital (1,799 million euros) and that shareholders have disbursed 3,491 million real. All this together with the increase of 1,830 million euros in expropriation costs in non-urbanizable rural land.

The four radial highways of Madrid projected during the government of José María Aznar (1996-2004) were declared bankrupt, pressured by a joint debt of 1,700 million euros and a fall in traffic that exceeds 48% from the maximum that recorded in 2007, before the crisis. Next to the radial R-2, R-3, R-4 and R-5 and the Airport Axis, the AP-41, which connects Madrid and Toledo; the AP-36, which runs between Ocaña (Toledo) and La Roda (Albacete); and Cartagena (Murcia) and Vera (Almería) were also doomed to the contest.

Bankrupt toll roads

  • Freeway AP-41 (Madrid-Toledo). This highway, which opened in December 2006, was the first to declare bankruptcy in May 2012 after dragging a debt of 530 million euros (380 to banks and 150 to expropriated owners). Its owners include companies such as Isolux, Comsa, Sando and Azvi and Banco Espírito Santo.
  • Radial 4 (Madrid-Ocaña). The radial highway R-4 was declared in voluntary bankruptcy in October 2012. Inversora of Autopistas del Sur and Autopista Madrid Sur, the concessionaire companies could not cope with the debt of 575 million euros . The construction companies Cintra-Ferrovial and Sacyr and the former Caja Castilla-La Mancha are behind these companies. Between January and September 2013, this radial decreased its traffic by 16.4% (to 4,949 vehicles per day).
  • Radial 3 (Madrid-Arganda) and Radial 5 (Madrid-Navalcarnero). The company Accessos de Madrid, concessionaire of the R-3 and R-5 (participated by the construction companies Abertis, Sacyr and ACS), was declared in voluntary bankruptcy days after doing the R-4 in order to refinance the debt of 666 million euros contracted with banks . The R-5 (Madrid-Navalcarnero) had lost 14.7% of users between January and September 2013, up to 6,957 vehicles per day. The R-3, on the other hand, fell 6.8% in that same period and added up to 9,719 users per day.
  • Radial 2 (Madrid-Guadalajara). Henarsa, concessionaire company of the R-2, was declared in voluntary bankruptcy in September 2013 after accumulating a financial debt of 450 million euros . This concessionaire is owned by Abertis, ACS, Acciona and Globalvía ​​FCC and Bankia. It is the highway that lost more traffic in 2013, by 22.5%, until posting a daily average of 4,588 vehicles.
  • Freeway AP-36 Ocaña-La Roda. The concessionaire – managed by Ferrovial, Sacyr and Kutxa – entered the voluntary creditors’ contest in December 2012 – after requesting it in October – as it was unable to meet the 522 million euro passive that it held and that expired at the end of that year . Traffic on this highway fell by 9.8% in 2013, to 2,802 cars per day.
  • Circunvalación of Alicante. It was declared bankrupt in the summer of 2013. The concessionaire Ciralsa thus recognized its insolvency situation by declaring a liability of more than 400 million euros . Its traffic in 2013 had decreased by 7.3% (to 5,293 transits per day).
  • Highway AP-7 Cartagena-Vera. The lack of traffic – in 2013 decreased by 3%, to 2,737 daily users -, added to the financial problems due to the impossibility of paying interest and the extra costs for works and expropriations led to Aucosta, the concessionaire of this highway -participated by Ploder, Globalvía ​​(FCC and Bankia), Unicaja, BMN and CAM- to declare bankruptcy in February 2013 with a liability of 550 million euros.
  • Alicante-Cartagena AP-7 motorway. Ausur, the company that operates the infrastructure, has not yet declared bankruptcy despite the significant debt it has with the banking consortium – Santander, BBVA, CaixaBank, Bankia, Sabadell and Popular – which granted it a loan of 210 million of euros . Banks believe that the only solution is through nationalization, but Ausur shareholders are trying to renegotiate the debt. The highway reached its maximum traffic in 2007, with 20,410 vehicles, and has been losing users until reaching the 17,000.
  • Highway Axis Airport M-12 . This route, of which the OHL group is 100% owner, has been declared bankrupt in January of this year, with a debt of some 550 million euros.

 

Do you see well that the Government assumes half of the debt of the bankrupt toll roads to rescue them?

Yes, it is necessary to keep infrastructures in operation, which construction was expensive.
4.2% (98 votes)
No, they are not used very much and it means a lot of public money for their rescue.
71.98% (1680 votes)
It would only have to rescue the most used ones and encourage their use with lower toll prices.
23.82% (556 votes)
see survey

Heidelberg – Young men between the ages of 18 and 29 often ask for loans. Their share of credit requests is 164 percent higher than their share of the total adult population. That’s what Verivox tariff experts found out. For the investigation, all loan requests for the Verivox installment loan settlement were evaluated from June 2016 to July 2017.

Image: Young man is working on the laptop 

Most loan requests come from younger ones

The young men account for just under a tenth of the total adult population. On the other hand, they ask Verivox more than every fifth loan. The number of younger women is also higher among women: 18 to 29 year olds most often need a loan.

picture

Women rarely apply for a loan

Two thirds of all loans were requested by men. Women are not only less likely to apply for a loan, but also smaller amounts of credit. On average, men ask for 28 percent more money.

Not every request leads to the contract

However, lending often does not lead to a contract: some 18 to 29-year-olds do not receive any loan offer from the bank, while others do not accept the bids. For the contracts concluded, this age group is even underrepresented. Men graduate from 30 to 39 in credit. They receive one in five loans, even though they make up only 7.3 percent of the adult population.

With age, the requested sums increase

With increasing age, credit inquiries become less frequent, but the demanded credit sums rise. The 40- to 49-year-olds ask with an average of 14,285 euros the highest sums. The average of all age groups is 11,511 euros.

From 60 years, only a few loans are requested. Seniors can rely on savings rather than borrowing money for their purchases. Nevertheless, at least 6 percent of all borrowers at Verivox are between 60 and 70, two percent even over 70. With sufficient creditworthiness, banks also make senior credit offers.

credit

Net loan amount Euro
Loan term 12 months 24 Months 36 months 48 months 60 months 72 months 84 months 96 months 108 months 120 months
use used cars New cars motorcycle Rescheduling / credit repayment Balance checking account renovation Furniture / Furniture / Kitchen move travel PC / TV / phone / audio Commercial / self-employed Free use Compare now!

 

All willing to borrow

Alexia keeps the date in the corner of his head: “In October, I started to pay off.” 330 euros per month for four years. Soon graduated from Sup de Co Toulouse, it recognizes that the loan – 17,000 euros – puts a little pressure. “It feels more pressed to take a job.” Alexia is not specifically disadvantaged. His parents separated, had concluded a deal with her. Father finance the first year, the mother, the second, and Alexia year of graduation. Schooling at Sup de Co Toulouse is average business schools: 7300 euros per year. But Alexia, having opted for a break – a year abroad – has chosen to finish in style with a double degree, are three semesters at the Technische Universität Berlin. The result, she borrowed almost the maximum 17 000 euros at once, to live the last moments of student life “more fully.” Back in Berlin in January, she is working hard to write his memoir while Bossant next.

Schedule tight. Alexia is not an isolated case. She agreed with the ladle, “at least one third, possibly even half,” his comrades weighted as it a debt. “The discussion is very easy with banks. The case is mounted in a quarter turn. It is clear that they are on the lookout. I got an extension of 2,000 euros last year. I also know I can push the refund. ”

Yann, he is in the “gap year” after the first two years of HEC. He took his internship at a consulting firm in Boulogne (Hauts-de-Seine), to put money aside. Because it already accumulates 25,000 euros of debt. It is not even on the ceiling that his bank (LCL, the former Credit Lyonnais) theoretically provided to students on campus (around 30,000 euros). But he wants to avoid borrowing too much for the last year of school. The regime of repayments that will have to impose upon its release, is already severe: 500 euros per month the first year, 800 to 900 euros the next two years and then 500 euros again. And he wants to accelerate again: “I think to stay at home”, he said, that is to say, stay in the family home near Sarcelles (Val-d’Oise) to save rent when has landed her first job.

Yann finances his studies only: 7700 euros per year tuition, room on campus (530 euros the first year, excluding APL), the contribution to the student office (450 euros), the purchase of the PC, the licensed driver. His mother used to SNCF, and his father, head of a small business federation, are separated. The school has a budget to help students gave him nudge the first year. Many students also improve the ordinary with odd jobs. His two-hour weekly glue, in a preparation St. Cloud, it reported last year, a significant windfall for a hundred euros per week.
Getting a loan is not really a concern. At each reporting on the campus of HEC, three or four banks (Société Générale, LCL, BNP-Paribas.) Take place shop for financing. Rates are negotiated with the school. Yann got ready for its subscribed in 2006, a rate of 2.70% in the LCL “This is 0.5% less than the standard rate.”

By telephone. The student in engineering school does not escape more detour to the bank loan. Especially if he follows a course fee: 25% of schools, non-public, charge tuition. ESTP (Special School of Public Works) is one of them. It runs on its advertising inserts, the range of financial aid, including bank loans. It even provides the phone numbers of agencies around the school. It only remains to call. At CIC, home phone is kind. The credit rate is less so: “This is 3.64%. And the security is imperative, “said the counselor. At LCL, the home is more friendly “2.43%, with zero application fee, of course!” The formula proposed to “Estépiens” is particularly rehearsed: an advance of 6,000 euros a year (or more) released each year to pay the tuition, and we reimburse once hired. Flexibility mound on a single limit: “The maximum time between the first loan and the end of the repayment should not exceed seven years.”

Do students borrow more than before? ESTP lack of evidence to quantify the scale: “Banks strongly communicate with our students and with particularly inciters rate,” says the school, especially as’ graduates are expected in a market of buoyant construction. ”

But the loan is not the only way to finance studies, further emphasizes the school that figure to nearly 50% the proportion of its engineering students who receive scholarships or specific aid. 1.5 million was distributed as (CROUS, businesses, professional associations, alumni associations.) In 2007 and 1.9 million should be in 2008. Jonathan childminder mother and stepfather agent Masters, the first year of ESTP has “unlocked” 10,000 euros on his bank loan of EUR 30 000 intended to cover his tuition. The sum does not move: “I have a friend who Société Générale lent EUR 70 000.” And now Vinci, the construction company offered him a deal: finance his second and third years of studies against the commitment to make its courses, and future trial period at home. The offer is “tempting”, weighs Jonathan, but he will not let his loan, because he said, at that rate (2.43% for loan LCL), “it would be stupid not to benefit”.

Double talk. The EISTI, an engineering school specialized in information processing, has taken a step further and offers a “home” solution: the school has signed with a bank (LCL) Cergy, an agreement deposit exemption student borrowers. Only tuition fees are funded. The sum is borrowed at one time and at any point in the cycle – up to 19 200 euros for the three years of engineering studies, but up to 27 400 euros if you include the two years of preparatory classes integrated school. It is hosted collectively by the school. The profit is rather thin for the student “is protected from raising our rates – around 3% per year,” explains the school. Even tuition fees are not immune to inflation. About fifty students on promotions of 150 to 200 students resort to this formula. They accumulate quite often with a scholarship at the school which has a quarter of scholarship students.

In the view of schools, financing by bank loan was never so well worn. The year of “caesura” often spent abroad, rent inflation, the near certainty of a job for engineers and sales staff, call for debt. Banks are less vocal on the subject. “The student loan-related market is still quite toned and rates from May 2007 to May 2008 remain stable,” said the pretty jargon Générale. The engineering schools or business is “still as a popular hunting ground,” commented the head of the student office of a major engineering school, which negotiates each school year, access to large banks file students. This is where the deposit banks harpoon their future businesses. Yann, Jonathan, and Alexia.

Forex Trading Strategies – Let Price Action Lead You To Profits

Today necessarily the most severe crises are affecting almost every person. Some lost lots of money, savings, 401K along with other investments. It appears like in January we noticed something was wrong. But no-one expected closures of banks; Dow Jones jaw opening loses and other adverse economic turmoil which still not over.

Instant approval loans demand that the processing of loan payment should be fast. For this reason credit record of the loan-seeker is not checked. Meaning that anyone whose score is below 580 much FICO, also, be availed these kinds loans. Secondly, the borrower is not asked offer his tangible property to get pledged as collateral against which the amount borrowed is usually paid. Instant approval loans are exempted from the process of faxing. The borrower can put online. This natural process and it is easy to save one’s time together with other botheration 1 set of muscles applies within the internet.

You can execute the transaction entirely from the comfort classification of banks your to your house. Your beneficiary need not have an internet account to receive this money transfer.

To answer that, we need to discover how the market works. Movement in the forex market is driven by the experience of amount of-of large players – types of banks pdf, central banks and essential trading companies who place trades worth billions of dollars allow it to move the market by smaller sized . of their trades.

Participants ultimately 25 November discussion, moderated by Mint Money editor Monika Halan, were M.V. Verma, chairman and managing director, National Housing bank definition money; Anshul Jain, CEO-India, DTZ International Property Advisors; Rahul Bhasin, managing partner, Baring Private Equity Partners (India) Ltd; Anil Sachidanand, chief executive officer, Dewan Housing Finance Corp. Ltd; and L. Sukumar, editor, Mint.

This has not been “another race,” “another faith.” We neglected to see we the associated with the world; we were the world, a tiny piece found in a large faction of conquerors, trying staying free from own inherent misgivings.

If your insurance suddenly goes bankrupt, which is most likely. AIG, American Insurance Group, went bankrupt because AIG insurers mortgage connections. But AIG received $85 billion loan guarantee from our government.

So when you’ve got say a checking account that a personal touch, it may be worth choices a bank CD. Finance institutions are to be able to use your money either way, and it is always more beneficial to use a CD. There is a number out there and several to choose from.