forward start facility

forward start facility
England, Wales
A committed syndicated loan used to refinance (that is, repay) an existing syndicated loan on maturity. Key features of a forward start facility include:
• It is a new syndicated loan agreement that sits alongside an existing syndicated loan agreement.
• It is only available on the existing syndicated loan maturity date (which ensures the lenders under both facilities do not have a double exposure) and for the purpose of refinancing the existing syndicated loan.
• It is signed long before the existing syndicated loan maturity date, between several months to over a year before that date.
• Its lenders include some of the existing syndicated loan lenders (but not all, as in that case the existing syndicated loan could simply be amended, including to extend its maturity date, and a forward start facility would not be required).
• Its terms are based on the existing syndicated loan terms, subject to certain exceptions such as availability period, purpose, conditions precedent (condition precedent), pricing and maturity date.
For more information on forward start facilities, see Practice note, Types of lending and facilities: Forward start facilities (www.practicallaw.com/8-202-0672).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • National Ignition Facility — NIF s basic layout. The laser pulse is generated in the room just right of center, and is sent into the beamlines (blue) on either side. After several passes through the beamlines the light is sent into the switchyard (red) where it is aimed into …   Wikipedia

  • Naval Air Facility Atsugi — NAF Atsugi 厚木海軍飛行場 Atsugi Kaigun hikōjō IATA: NJA – ICAO: RJTA …   Wikipedia

  • Collins class submarine — HMAS Rankin, sixth submarine of the Collins class, underway in 2006 Class overview Builders: Australian Submarine Corporatio …   Wikipedia

  • Over-the-counter (finance) — Within the derivatives markets, many products are traded through exchanges. An exchange has the benefit of facilitating liquidity and also mitigates all credit risk concerning the default of a member of the exchange. Products traded on the… …   Wikipedia

  • Margin (finance) — For the 2011 film, see Margin Call. In finance, a margin is collateral that the holder of a financial instrument has to deposit to cover some or all of the credit risk of their counterparty (most often their broker or an exchange). This risk can… …   Wikipedia

  • RGM-66 — Start einer SM 1 an Bord einer Perry Fregatte Der Ausdruck Standard Missile bezeichnet eine Familie von schiffgestützten Boden Luft Raketen mittlerer bis hoher Reichweite. Der erste Produzent war General Dynamics, die meisten Varianten wurden… …   Deutsch Wikipedia

  • RIM-156 — Start einer SM 1 an Bord einer Perry Fregatte Der Ausdruck Standard Missile bezeichnet eine Familie von schiffgestützten Boden Luft Raketen mittlerer bis hoher Reichweite. Der erste Produzent war General Dynamics, die meisten Varianten wurden… …   Deutsch Wikipedia

  • RIM-161 — Start einer SM 1 an Bord einer Perry Fregatte Der Ausdruck Standard Missile bezeichnet eine Familie von schiffgestützten Boden Luft Raketen mittlerer bis hoher Reichweite. Der erste Produzent war General Dynamics, die meisten Varianten wurden… …   Deutsch Wikipedia

  • RIM-66 — Start einer SM 1 an Bord einer Perry Fregatte Der Ausdruck Standard Missile bezeichnet eine Familie von schiffgestützten Boden Luft Raketen mittlerer bis hoher Reichweite. Der erste Produzent war General Dynamics, die meisten Varianten wurden… …   Deutsch Wikipedia

  • RIM-66 Standard Missile — Start einer SM 1 an Bord einer Perry Fregatte Der Ausdruck Standard Missile bezeichnet eine Familie von schiffgestützten Boden Luft Raketen mittlerer bis hoher Reichweite. Der erste Produzent war General Dynamics, die meisten Varianten wurden… …   Deutsch Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”