16.4.8 Split Renewal Interest Rate Fixing Advice to Participant Bank

When you fix the interest rate for the split drawdowns, you can send the Split Renewal Interest Rate Fixing Advice to the participant bank just as you would send to the borrowing customer.

All the fields of Split Renewal Interest Rate Fixing Advice that is sent to the borrower are included in this advice. The following additional fields are also available.

• Details of Original Advance
  • The name of the borrower.
  • The participant’s contribution for the original loan. This is the Base currency equivalent of the drawdown amount.
  • The participant’s contribution for the original loan, expressed in the drawdown currency (Optional Ccy).
• Details of New Advances
  • The participant’s contribution for each of the new loans, in the base currency.
  • The participant’s contribution for each of the new loans, defined in the currency of the drawdown.
  • The maturity date for each new drawdown.

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.
• The Message Type for the Borrower Interest Rate Fixing Advice is BORR_IRFX_ADV and that for the Participant Interest Rate Fixing Advice is PART_IRFX_ADV.