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Banks don`t fancy prepayments: Business Line
Banks have begun tightening covenants and building in additional safeguards in portfolio buyouts to discourage prepayments. Among the banks, which have initiated this tightening, are foreign banks such as ABN-Amro. ABN-Amro has been involved in large asset buyout of both retail and corporate assets in the country from some of the existing private and public sector banks in the country.
Banks have begun tightening covenants and building in additional safeguards in portfolio buyouts to discourage prepayments. Among the banks, which have initiated this tightening, are foreign banks such as ABN-Amro. ABN-Amro has been involved in large asset buyout of both retail and corporate assets in the country from some of the existing private and public sector banks in the country.