16.4.5 Interest Rate Fixing Advice to Participant for New Drawdown

Just as you send an Interest Rate Fixing Advice to the borrowing customer, you may send an Interest Rate Fixing Advice to the participant bank as well, at the time of initiating a new drawdown for the borrowing customer.

All the fields (excluding Standing Instructions) available in the advice sent to the borrower are available in the advice to the participant bank also. In addition, the following additional fields are included:

• The name of the borrowing customer.
• The Participant’s contribution in the currency of the tranche (Base Currency) under which the drawdown contract is linked.
• The Participant’s contribution in the drawdown currency (Optional Currency).

Note:

If you have chosen the SWIFT media for sending the advice, then instead of the above mail format, the corresponding SWIFT message, MT644 is generated.