In the process, the Company has submitted and completed all documents required by the lead bank to obtain the banking facility for the acquisition of projects it will undergo. KinerjaPay is also continuing to work with the local banking syndicate to receive the rest of the co-funding monetization from the $100 million SWIFT Bank Guarantee from the Wahana Group throughout June and July.
KinerjaPay Confirms Funds from Wahana Group
Subsequent to a meeting with the lead bank of the local banking syndicate, KinerjaPay (OTCQB: KPAY) expects to begin receiving the funds to start its investment program by the end of May and to continue through the next several months. The lead bank said to expect US$10-15 million of the funding of the recent bank guarantee to be in the Company’s Bank Account by the end of May or first week of June. These funds are to be received under the series F and G convertible preferred equity private placement signed by the Wahana group in January 2019.