Loan / Credit Facility Backed Securities
Facility Agent
Acts as a facilitator between the lenders and the borrowers. The agency services depend upon the transaction structure but mainly includes the following:
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Monitoring compliance of pre-execution and post-execution conditions governing terms and conditions of credit facility
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Co-ordinate with Account Bank for timely fund transfer and Security Trustee for security creation
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Interest rate fixation, calculation and payouts
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Review TRA/ Escrow structure, issue instructions to the account bank and carry out duties as defined in the agreement
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Follow up with the borrower for reports / statements / compliance documents for dissemination of information to lenders
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Monitor compliance of insurance and progress of project
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Convening meeting of counter parties in connection with waiver / modification / default in the facility terms