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With Quest Merchant Bank's Agency Services solution, we serve as a facility agent to help manage financial transactions between borrowers and lenders in addition to handling the flow of funds between transacting parties.
In a market characterized by rigorous laws and the necessity to efficiently manage possible conflicts of interest – particularly in workout or restructuring scenarios – lenders are increasingly seeking independent service providers to manage the agency aspects of their portfolios.
As Facility Agents, we have extensive market experience and specialist knowledge to support a wide range of loan financing, extending to complex leveraged finance and multi-currency transactions. We offer bespoke agency services, promptly assessing transactions and responding to client needs in situations where speed and flexibility are of upmost importance.
Understanding the Role
A Facility Agent is a person who works for a company that manages facilities. Facility Agents oversee the management of cash flow as well as the communication between the borrower and the lenders.
Facility Agents provide continuing transaction assistance by serving as the principal point of contact for all parties involved in a syndicated loan (a syndicated loan is a loan issued by a group of lenders that join to provide cash for a single borrower).
Independent agency support becomes especially valuable where documentation is complex, multiple stakeholders are involved, or restructuring scenarios require careful and impartial coordination.
What does the Facility Agent do?
The Facility Agent's role is mainly mechanical and administrative, carrying out the responsibilities defined in the facility agreement with clarity and consistency.
Responsibility 1
Interest is calculated for each interest period, and rates are communicated to lenders and borrowers.
Responsibility 2
Borrower's interest payment is received and distributed to the syndicate.
Responsibility 3
Managing lender questions and communication between the parties.
Responsibility 4
Managing possible conflicts of interest, particularly in the context of a workout or restructuring.
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