ICS BANKS Syndicated Loans system simplifies the borrowing process as the borrower uses one agreement covering a whole group of banks and different types of facility rather than entering into a series of separate bilateral loans, each with different terms and conditions. There is usually one bank, called agent bank, which leads the loan agreement and share the fund.
The system provides loans payment rescheduling with the facility of changing the syndicated loans interest (Libor + Margin), and maintains dynamic commissions which will be taken as a percentage or as an amount according to different frequencies.
ICS BANKS Syndicated Loans system provides automation and distribution of various kinds of complicated computations between participants’ banks, such as commission fees, commitment fees, drawdown participation, interest payment, and principal and interest payment. The system also provides total payment schedules in addition to providing each participant bank with a separate payment schedule.
The process of the syndicated loan agreement usually starts with the agent bank that handles documents verification, agreement process, scheduling payments and paying for customer. The agent bank is also responsible for fund transfer between the participating banks and the customer as well. Parties of the syndicated loans include:
6. Agent bank
ICS BANKS Syndicated Loans include four main documents; mandate letter, term sheet, information memorandum and the syndicated loan agreement.
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