Summary: Emirates NBD acted as agent bank
, security agent and mandated lead arranger in the club financing arrangement that included Commercial Bank of Dubai and Arab Bank as mandated lead arrangers
M2 EQUITYBITES-August 22, 2016-TCM Bank Acquires Agent Bank
Portfolio from Fifth Third
An agent bank
which is called agency bank too is a bank that acts in some capacity on behalf of another bank.
Syndicated loans involve multiple lenders for each borrower with an agent bank
acting as the liaison, transmitting information back and forth among parties.
Commerce acted as agent bank
in providing a $17,650,000 construction loan for Coney on the Park L.
PARIS & NEW YORK -- The Depository Trust & Clearing Corporation (DTCC) has announced that Societe Generale in North America will link to its Loan/SERV Reconciliation Service as both agent bank
and lender to help automate and streamline the processing of syndicated loans, enabling the bank to view and reconcile loan positions with thousands of lenders on a daily basis.
According to the company, the solution will act as HSBC's single source of agent bank
As our role in the global syndicated loan market grows, we are dedicated to ensuring that we, as an agent bank
, and our lenders agree on loan positions and the accruals that take place during the life of the loan," said Michele Ushkowitz, Head of Financing Operations for Societe Generale Corporate & Investment Banking in the Americas.
It will help ensure that cash settles simultaneously with the change in legal ownership of the asset recorded by the agent bank
Cash on Transfer will ensure that cash settles simultaneously with the change in legal ownership of the asset recorded by agent bank
Cash on Transfer will give the global syndicated loan market a platform for the simultaneous movement of cash with the change in legal ownership of the asset recorded by the agent bank
MCPS purchased the Agent Bank
portfolio and several thousand merchants in October 2009.