INTL FCStone 2005 Annual Report Download - page 66

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INTERNATIONAL ASSETS HOLDING CORPORATION AND SUBSIDIARIES
Notes to the Consolidated Financial Statements—(Continued)
September 30, 2005 and 2004
currencies. Amounts borrowed bore interest at LIBOR for each currency plus 2%. The overdraft facility was
guaranteed by International Assets Holding Corporation. At September 30, 2004, the net borrowings of INTL
Global Currencies exceeded its credit facility limit by $3,447,417. This excess borrowing was guaranteed by a
cross-lending guarantee from the former owner of the foreign exchange trading business of INTL Global
Currencies. The former owner of the foreign exchange business was not obligated by any written agreement to
provide access to this additional credit. The guarantee terminated during the quarter ended December 31, 2004.
This on-demand facility was terminated during the quarter ended March 31, 2005.
At September 30, 2005 the Company had the following credit facilities:
Amount
Borrowing at
September 30, 2005 Security Duration
$ 10,000,000 $2,789,359 Certain foreign exchange assets March 31, 2006
8,000,000 Unsecured March 31, 2007
5,000,000 3,057,960 Certain commodities assets On demand
10,000,000 4,000,000 Certain trade finance assets On demand
$ 33,000,000 $9,847,319
F-26