This transaction is used to make any kind of change to the Syndication Deal. This transaction can be automatically registered via the Syndication Master Amendment or Offer Syndication Amendment transactions depending on the details captured in the Syndication Master Amendment transaction.
If there is no approval required from the Account manager or the syndication partner, then the Amending transaction can be directly Auto-registered from the Syndication Master Amendment transaction.
In case approval is required, the Syndication Party may refuse the amendment. In such cases, if the amendment includes an increase on the primary AVL Liability and the Syndication Party participates with a percentage on all Liabilities with the 'Applicable for all Liabilities' Flag set, refusal of participating in the increase will result in a new percentage value being entered for the “New Syndication Percentage” in Liability Approval for Amendment/Offer Syndication Amendment/Creating a Syndication Deal.
The “New Syndication Percentage” will by default apply to all existing Booked in Syndication Liabilities.
The amendment transaction is an outcome of the MT707 (or MT 767 depending on the primary contract) received on the primary side. Based on the details from the primary side, the Syndication Deal will be amended.
The amendment process ends with this transaction.
To learn more about the amendment process please refer to Amendment Overview.
Possible Syndication Status | Comments |
---|---|
Booked In Unfunded |
Possible Syndication Status | Comments |
---|---|
Booked In Unfunded | The status is not defaulted here; the user manually has to choose the status. |
Booked Out Unfunded | |
Not Syndicated |
Kindly refer to status_handling_of_syndication_deals for further particulars on Status Handling.
'Amending' panel:
Syndication liabilities:
An existing Syndication Deal which is open and not closed.
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
For more information see TRNDIA Diaries.
Details on creation of messages can be found under DOCEOT Messages. For outgoing allNETT / RIVO messages see Overview of Outgoing messages - allNETT / RIVO.
Based on the template used in the ‘Deal Message/ Handling’ panel, the correspondence is sent to the Syndication Party.
One of the messages shown below can be sent depending on the selection in the ‘Deal message / handling’ panel:
Name of Message | Receiver | Message ID | Type | Comments |
---|---|---|---|---|
Full Release | SYN (Syndication Party) | SDTSYN1 | E-mail / Letter | |
Partial Release | SYN (Syndication Party) | SDTSYN1 | E-mail / Letter |
Kindly refer to deal_message_handling for further particulars on Deal Message Handling.
Amendment
Overview
Syndication Liabilities
Details
Interest Details
Syndication Agreement
Deal Message/Handling
Completion
Messages
Attachments
Settlement
Bookings
Settlement Details
Datafield | Description |
---|---|
Amendment Amount | This field contains the amendment amount of the contract. |
New Nominal Amount | This field contains the new nominal amount. This is calculated by adding the amendment amount to the old nominal amount. |
Amendment Date | This field specifies the date on which the relevant party considers the contract to be amended. |
Currency | cf Appendix A, Table CBB field CUR |
Maximum Amount | cf Appendix A, Table CBB field AMT |
Expiry date (Amendment) | This field contains the new (amended) expiry date of the L/C. |
Number of Amendments | cf Appendix A, Table SDD field AMENBR |
Datafield | Description |
---|---|
Name | cf Appendix A, Table LED field NAM |
Name | cf Appendix A, Table GID field NAM |
Own Reference | cf Appendix A, Table LED field OWNREF |
Own Reference | cf Appendix A, Table GID field OWNREF |
External Key | cf Appendix A, Table PTS field EXTKEY |
Address Block | cf Appendix A, Table PTS field ADRBLK |
Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
Currency | cf Appendix A, Table CBB field CUR |
Maximum Amount | cf Appendix A, Table CBB field AMT |
Opening Date | cf Appendix A, Table SDD field OPNDAT |
Datafield | Description |
---|---|
Own Reference | cf Appendix A, Table CCI field OWNREF |
Name | cf Appendix A, Table CCI field NAM |