15. S.W.I.F.T. Messages for Loan Syndication

This chapter contains the following sections:

15.1 Introduction

The S.W.I.F.T. messages generated by the system during the life cycle of a tranche or drawdown contract under a syndication contract are detailed in this annexure:

15.2 S.W.I.F.T. Messages

SWIFT Message Type

Related to

Purpose

When Generated

Event in FLEXCUBE

Mail Equivalent

MT 643

Tranche input

Provides notice of the bor­rower(s)' request for drawdown(s)/renewal(s) on a given date

N days prior to the value date of the draw­down, where N is the notice days specified on defining the Syndication Product

INIT

Mail Format of MT643

MT644

Draw Down input

Specifies the interest rate and, if applicable, the exchange rate, for the next inter­est period

On initiation of a drawdown under tranche or on value dated amend­ments

INIT /VAMI

Mail Format of MT644

MT645

Fee Liqui­dation

Specifies flat and variable fees, related to one facility, due to the Receiver

On Manually liquidating the Fees

FLIQ

Mail Format of MT645LS_­FLIQ

MT646

Repay­ment of Draw Down

Advises of Pay­ments and/or pre­payments of principal and/or interest on the same value date, not related to any subsequent drawings or renewal

On Repayment or prepayment of the draw­down

LIQD

Mail Format of MT646LS_INC_SHR

MT649

Free For­mat

Provides for com­munications related to syndi­cated facilities for which no specific messages has been defined

At the discre­tion of the sender

NA

NA

15.2.1 S.W.I.F.T Tags and Oracle FLEXCUBE Fields Linkage - MT 643

Notice of Draw Down Renewal

SWIFT Tag

Field Name

Mandatory (M) / Optional (O)

Field / FFT Code

Field / FFT Code name in Oracle FLEXCUBE

20

Transaction reference Num­ber

M

Field

Contract Reference Number

21

Related Refer­ence

O

Field

Related Reference Number if specified in the contract.

23

Further Identifi­cation

M

Field

Syndication Contract reference to which the present tranche is attached

88D

Borrower

M

Field

CIF id of the borrower specified in the tranche contract

32A

Original Facil­ity Amount

M

Field

The value date and Amount specified in the Syndication con­tract to which the present tranche is attached

26N

Drawing Identi­fication

M

Field

The Draw Down Currency and number specified in the LS Draw Down schedules Screen (under Borrower leg contract)

31F

Draw Down Period

M

Field

The drawdown date and tenor* specified in the LS Draw Down schedules Screen (under Bor­rower leg contract)*The end date of the drawdown is arrived at using the drawdown date and tenor

32B

Amount of Draw Down

M

Field

The Amount specified in the LS Draw Down schedules Screen (under Borrower leg contract)

33B

Receiver's Par­ticipation

M

Field

The Amount arrived using the drawdown amount and the par­ticipation ratio specified in the Participant (Receiver) leg of the tranche contract

15.2.1.1 MT 643 – A Sample

Sample MT643 Message

 

{1:F01AMBKWASHIXXX1111111111}

{2:I643JARDINEFXXXXN}

{4:

:20:000LRCP010010009

:21:

:23:000LGEN010010003

:88D:BAKER01

:32A:19990101USD1000000000,

:26N:USD/1

:31F:2001010120020101//

:32B:USD100000,

:33B:USD80000,

-}

15.2.2 S.W.I.F.T Tags and Oracle FLEXCUBE Fields Linkage - MT 644

15.2.2.1 Advice of Rate and Amount Fixing

SWIFT Tag

Field Name

Mandatory (M) / Optional (O)

Field / FFT Code

Field / FFT Code name in ORACLE FLEXCUBE

20

Transaction reference Number

M

Field

Contract Reference Number

21

Related Refer­ence

O

Field

Related Reference Number if specified in the contract.

88D

Borrower

M

Field

CIF id of the borrower specified in the Draw Down contract

32A

Original Facil­ity Amount

M

Field

The value date and Amount specified in the Syndication con­tract to which the present draw­down is attached

26N

Drawing Identi­fication

M

Field

The Draw Down Currency and number of Draw Downs (under the tranche) specified in the Draw Down Contract

31F

Interest Period

M

Field

The Value date and Maturity date of the drawdown is specified in the Draw Down Contract

37G

Basis Rate

M

Field

The Interest rate specified in the Participant Leg Contract

15.2.2.2 MT 643 – A Sample

Sample MT644 Message

{1:F01AMBKWASHIXXX1111111111}

{2:I644BANKAMERXICAN}

{4:

:20:000DFPN013650007

:21:

:88D:GENMO01

:32A:20011226USD2000000000,

:26N:USD/2

:31F:2001123120020331//

:37G:18,

-}

15.2.3 S.W.I.F.T Tags and Oracle FLEXCUBE Fields Linkage - MT 645

15.2.3.1 Notice of Fee Due

SWIFT Tag

Field Name

Mandatory (M) / Optional (O)

Field / FFT Code

Field / FFT Code name in Oracle FLEXCUBE

20

Transac­tion refer­ence Number

M

Field

Contract Reference Number

21

Related Refer­ence

O

Field

Related Reference Number if specified in the contract.

88D

Borrower

M

Field

CIF id of the borrower specified in the Tranche contract

32A

Original Facility Amount

M

Field

The value date and Amount specified in the Syndication contract to which the present Tranche is attached

23

Type of Fee

M

Field

The Fee component as described by the user in the charge definition screen of the Participant Product

31F

Fee Period

M

Field

The Value date of Fee Liquidation

34B

Fee Amount

M

Field

Fee Credited to the Customer

33A

Total Fees

M

Field

Fee Credited to the Customer

15.2.3.2 MT 645 – A Sample

Sample MT645 Message

{1:F01AMBKWASHIXXX1111111111}

{2:I645JARDINEFXXXXN}

{4:

:20:000LNCP010010018

:21:

:88D:IBNIN01

:32A:19900101USD1000000000,

:23:Syndication non rev fees

:31F:2001123120011231

:34B:USD600,

:33A:600,

-}

15.2.4 S.W.I.F.T Tags and Oracle FLEXCUBE Fields Linkage - MT 646

15.2.4.1 Payment of Principal and/or Interest

SWIFT Tag

Field Name

Mandatory (M) / Optional (O)

Field / FFT Code

Field / FFT Code name in Oracle FLEXCUBE

20

Transaction refer­ence Number

M

Field

Contract Reference Number

21

Related Refer­ence

O

Field

Related Reference Number if specified in the contract

23

Type of transac­tion

M

Field

The type of transaction

88D

Borrower

M

Field

CIF id of the borrower specified in the Drawdown contract

32A

Original Facility Amount

M

Field

The value date and Amount specified in the Syndication contract to which the present Tranche is attached

26P

Drawing Identifi­cation

M

Field

Contract Reference Number of the Borrower Leg

32A

Total Principal Amount Repaid/Paid

M

Field

The Value date and Total amount Paid in the Borrower Leg Contract

32N

Principal Amount Due to the Receiver

O

Field

The Value Date of the payment and the share of Principal Paid due to the receiver

33N

Gross Interest Amount Due to the Receiver

O

Field

The Value Date of the payment and the share of Interest Paid due to the receiver

34A

Total Amount Transferred

O

Field

The sum of receiver's share of Principal and Interest Paid

15.2.4.2 MT 646 – A Sample

Sample MT646 Message

 

{1:F01AMBKWASHIXXX1111111111}

{2:I646BANKAMERXICAN}

{4:

:20:000DFNP010010001

:21:

:23:000LGEN010010001

:88D:GEIND01

:32A:19990101USD1000000000,

:26P:000LFNB010010001

:32A:20010630USD6000000,

:32N:20010630USD1800000,

:33N:20010630USD106520,55

:34A:1906520,55

-}

15.2.5 S.W.I.F.T Tags and Oracle FLEXCUBE Fields Linkage - MT 649

15.2.5.1 General Syndicated Facility Message

SWIFT Tag

Field Name

Mandatory (M) / Optional (O)

Field / FFT Code

Field / FFT Code name in Oracle FLEXCUBE

20

Transaction refer­ence Number

M

Field

System Generated

21

Related Refer­ence

O

Field

User Input

88D

Borrower

M

Field

User Input

79

Narrative

M

FFT

User Input

15.2.5.2 MT 649 – A Sample

Sample MT649 Message

{1:F01AMBKWASHIXXX1111111111}

{2:I199BANKAMERXICAN}

{4:

:20:000ZFFT013650002

:21:NONE

:88D:GE ELECTRIC CORPORATION INC

:79:ATTN : MR SMITH JOHNSON

PLEASE ACKNOWLEDGE THE RECEIPT OF

THE COPY OF GE'S BOARD RESOLUTION

FORWARDED TO YOU ON 29.12.2001

-}