Overview
A facility agent acts as the primary point of contact between the transaction parties to a syndicated loan. Appointed in the credit agreement, the agent acts as a neutral intermediary between the borrower and the lenders and performs the administrative tasks of the loan. This includes handling cash flow and providing on-going transaction support during the lifecycle of deal. In the event that discretionary action is required, the role of the agent is non-fiduciary which means the agent must follow the action of the majority lenders.
In their role as facility agent (and security agent if the loan is secured by collateral) the UK agency team are part of the wider EMEA agency platform and support a wide range of deals originating from various industry sectors including but not exclusive to; Corporates, Financial Institutions (predominantly Insurance and Investment Funds), Shipping, Infrastructure, Real Estate and Acquisition Finance. Working with the Offshore teams the agency function is responsible for delivering a control conscious and client focused service.
Main duties and responsibilities of the role:
You will become part of a self- co-ordinating team dedicated to maximising their potential and providing outstanding client service. In a market where speed and flexibility are key, continuous improvement and being responsive to the needs of our clients is a must:
Deal Closing
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Review of the facility documentation to ensure compliance with ING’s policy / latest LMA/LSTA wording from an operational perspective.
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Ability to collaborate with the originating business and legal counsel to ensure that all points raised are negotiated to a successful outcome.
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Identify and collate the information required to on-board a new deal whilst ensuring that all documentation is received on a timely basis and accurately reflected in Loan IQ.
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Liaise with legal counsel to ensure that relevant CPs are fulfilled and proactively manage the deal closing process including funds flow. This may include fronting and primary syndication depending on the transaction.
Transaction Management
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Ability to co-ordinate with multiple internal and external stakeholders to manage processes such as amendments, waivers, and consents.
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Main point of contact for all deal queries and issue escalations, ensuring that all matters are dealt with in a timely and efficient manner.
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Proactively attend meeting/calls with the business areas and external parties to understand the responsibilities of the agent or provide agency input on meeting subject matter.
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Set up syndicate calls and facilitate meetings where necessary.
Investigation
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Confident in reviewing loan documentation and using the tools available (i.e Excel, etc.) to investigate ad hoc issues and queries to a successful resolution.
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Timely investigation and reconciliation of nostro breaks to limit risk to the bank.
Operational In-Life Management Activities
Whilst this function sits with our offshore teams, oversight is expected:
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Proactively oversee day to day run activities (drawdowns, rollovers, repayments, fees, margin adjustments, covenants, secondary transfers, ancillaries, SBLCs, Withholding Tax, etc)
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Support our offshore teams to ensure that a high quality, client focused, and control conscious product is delivered.
Candidate Profile
Experience/Knowledge
Essential
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Minimum 3 years Loans Agency experience in a comparable role
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Proven ability to read and interpret credit agreements.
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Working knowledge of LoanIQ.
Desirable
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Exposure to Structured Finance (i.e., Real Estate Finance, Acquisition Finance, Shipping and Infrastructure Finance).
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Working knowledge of DebtDomain.
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Working knowledge of ClearPar.
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Security Agent experience.
Personal Competencies
Essential
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Excellent written and verbal communication skills.
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Outstanding client service.
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Result orientated with the ability to work under pressure and adapt quickly in an agile setting that imposes challenging deadlines.
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Analytical thinker with good organisational skills and attention to detail.
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A proven ability to perform well in a team but also operate independently.
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Proactive and has the ambition to take it on and make it happen.
Desirable
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Someone who is keen to challenge the status quo and is interested in continuous improvement and innovation.
