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AWB denies selling farmer''s debts
26 Mar 2009
AWB has issued a strong denial of a recent report in the Australian Financial review that it had sold off $2.3 billion worth of loans it has made to farmers. "This is incorrect. The loan book has not been sold," AWB said in a statement, adding that a review of the loan book is ongoing. The AWB loan book to farmers represents about five per cent of the total finance to the Australian rural sector. AWB has $1.2 billion worth of debt that it must refinance by early May.
Business Spectator/Reuters, 26/03/2009
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