Established in 2003, the Transaction Support and Agency services is managed within the Bank’s Corporate Banking business by a team which enjoys the number 1* position for market share in this specialised area in Ireland. Based both in Dublin and London, the team’s role is to facilitate the process of administering a loan on a daily basis on behalf of Bank of Ireland or other banks. This service is available to corporate borrowers and lenders in both the Irish and international syndicated and club loan markets and will allow third party financial institutions access to its specialist team who currently manage in excess of €10bn of Agency transactions. Consisting of experienced bankers, the team is the largest coordinator of deals in the Irish market offering Facility Agent Services, Security Trustee Services and Escrow Solutions.
* Based on Bank of Ireland analysis of syndicated deals in the Irish market, 2014-15.
Our team has a wealth of experience in acting as Facility Agent on a wide-range of corporate debt facilities. This offering was recently expanded to include provision of facility agent and / or payment agency services on third party deals – i.e. deals that Bank of Ireland is not a lender to. Bank of Ireland was the first Irish bank to appoint a team dedicated to agency services, operating in the Dublin market and the team currently manages 100 plus large corporate deals with an aggregate value of €10bn across a diverse range of companies and markets. These transactions are spread across Europe and the US and our team brings value to the syndicate bank group or other banks and the borrower in the management / monitoring of the proposed facility through our expertise in the area.
Our team has a wealth of experience in acting as Security Trustee, drafting or vetting of common documentation to secure borrowings and offering: understanding, experience and delivery in the role across a number of debt deal types and sizes. We bring value to the syndicate bank group and the borrower in the management / monitoring of the proposed facility through our:
- detailed knowledge and strong experience in dealing with documentation issues,
- the ability to manage large and small bank groups,
- a dedicated Agency team, with a separate reporting line to the relationship team, within Bank of Ireland,
- compliance procedures,
- sophisticated IT systems, which are required to support syndicated transactions, e.g. the Agency team uses Syndtrack as a means of securely distributing information to banks.