Long way to go for a loan

Friday, April 3, 2009

Even McDonald's is having to go far afield to ease cash-low problems. In late January, the global burger flipper got a $425 million loan from three Japanese banking consortiums.

While terms and interest rates weren't disclosed, the company described the loan as being for corporate purposes.

McDonald's isn't even hurting in the current recession. In early February, the company reported that world wide sales were up 7.1 per cent from a year ago as consumers sought their less expensive fare after abandoning casual dining establishments.

So if your banker is cranky, don't take it personally. BF