16.3.4 Split Renewal Exchange Rate Fixing Advice to the Borrower

When you split a single drawdown into a multiple drawdowns, you need to fix the exchange rate if the currency of the new drawdowns is different from the currency of the tranche under which they are initiated or the account to which they are linked. You can then send a Split Renewal Exchange Rate Fixing Advice to the borrower.

The following details of the each of the new drawdowns and the original drawdown that was split are included in the advice.

• Details of Original Advance
  • The reference number of the tranche to which the new drawdown loan is linked.
  • The date of the drawdown loan.
  • The period for Interest calculation.
  • The Maturity Date of the drawdown loan.
  • The currency of the tranche to which the drawdown is linked.
  • The Base currency equivalent of the drawdown amount
• Details of New Advances
  • The amount of the main syndicate contract.
  • The currency of the tranche to which the drawdown is linked.
  • The exchange rate applied.
  • The date of renewal.
  • The period for Interest calculation.
  • The maturity date of the drawdown.