- Alaska Statutes.
- Title 44. State Government
- Chapter 88. Alaska Industrial Development and Export Authority
- Section 525. Conditions of Debt Refinancing Guarantee.
previous: Section 520
. Application For Debt Refinancing Guarantee.
next: Section 530
. Applicability of AS 44.88.535
AS 44.88.525. Conditions of Debt Refinancing Guarantee.
The authority may not guarantee refinanced debt
- (1) unless the refinancing
- (A) is necessary to extend substantial debt payments over a longer period of time, thereby improving the applicant's net
cash flow and working capital position consistent with the useful life of the assets being refinanced;
- (B) assists with short-term debt or cash expenditures when lenders will not extend reasonable longer terms to the
- (C) creates additional economic opportunity or improves the viability of the borrower rather than just reducing the
liability of the lender; or
- (2) unless the refinancing is necessary to place a permanent loan subsequent to an interim loan for financing of the
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