March 22, 2009
AWB denies selling loan book
Australian wheat exporter AWB Ltd denied media reports that said it has sold a book of loans made to farmers.
The Australian Financial Review reported that AWB had sold the A$2.3 billion (US$1.6 billion) loan book to ease balance sheet pressures, as AWB needs to refinance A$1.2 billion (US$829.6 million) by early May.
"This is incorrect. The loan book has not been sold," AWB stated, adding that it is reviewing the funding model of the loan book and includes a range of possible outcomes.
