The $850 million private credit facility from Standard Chartered Bank, which carries a high interest rate of 18%, is secured against future brand fee receivables. These brand fees, projected at around $300 million annually, help VRL with a recurring revenue stream that partially services this private credit.
US stocks: S&P closes at record high as soft jobs report eases rate-hike concerns
The US stock market enjoyed a significant boost on Friday as the S&P closed at an all-time high. The unexpected rise in job losses led