Narrative
Full Description
Project narrative
On May 26, 2017, a syndicate of banks, including the London Branch of Industrial and Commercial Bank of China (ICBC), entered into a $105 million syndicated revolving working capital facility to Marex Spectron, a financial services company (#99820). Other financial details about the loan are currently unknown. Lloyds Bank, Bank Leumi, and Barclays, which contributed $15 million, which had participated in a previous $65 million working capital facility, also contributed to the new facility. Allied Irish Bank (AIB) joined along with ICBC. ICBC contributed $25 million USD, Barclays contributed $15 million USD, AIB contributed $15 million USD. On September 29, 2017, the facility, with the same lenders, was expanded to $115 million due to Barclays increasing their contribution to $25 million. Then, on May 1, 2018, the facility was expanded to $125 million, with each lender contributing $25 million (ID#99823). Marex Spectron also gained access to $10 million in same day liquidity. On March 6, 2019, the facility was again expanded to $165 million, and the same day covenant was expanded to $35 million (#99825). Each lender contributed $35 million, with the exception of Allied Irish Bank, which contributed $25 million.