The Credit Facility Letter is a fundamental banking document used in Malta when extending credit to borrowers, whether individuals or corporate entities. It serves as the primary agreement documenting the lending relationship and must comply with Maltese banking laws, including the Banking Act (Chapter 371) and relevant EU regulations. The document is typically issued following credit approval and details all essential aspects of the facility, including amount, purpose, interest rates, fees, repayment terms, and security requirements. It's designed to be both legally robust and comprehensible to borrowers, meeting regulatory requirements for transparency in financial services. The letter format is preferred in Malta for its clarity and accessibility while maintaining legal enforceability under local jurisdiction.
Credit Facility Letter for Malta
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Key Requirements PROMPT example:
Credit Facility Letter
"I need a Credit Facility Letter for a €2.5 million corporate revolving credit facility to be issued by Bank of Malta plc to TechStart Solutions Ltd, with quarterly interest payments and a maturity date of March 15, 2025, secured by company assets and personal guarantees from the directors."
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1. Bank/Lender Details: Full legal name and address of the lending institution
2. Date: Date of the facility letter
3. Borrower Details: Full legal name and address of the borrower
4. Facility Summary: Key terms including facility type, amount, and purpose
5. Interest Rate and Fees: Applicable interest rates, calculation method, and all associated fees
6. Repayment Terms: Repayment schedule, method, and frequency
7. Security Requirements: Details of required security or collateral
8. Conditions Precedent: Conditions that must be satisfied before facility availability
9. Representations and Warranties: Standard declarations by the borrower
10. Undertakings: Ongoing obligations of the borrower
11. Events of Default: Circumstances that trigger default
12. Acceptance Section: Signature blocks and acceptance declaration
1. Guarantee Requirements: Include when personal or corporate guarantees are required
2. Insurance Requirements: Include when specific insurance coverage is required for the facility
3. Property Details: Include for property-backed facilities or mortgages
4. Financial Covenants: Include for corporate borrowers or larger facilities requiring financial metrics maintenance
5. Security Margin Requirements: Include for facilities with floating security requirements
6. Cross-Default Provisions: Include when the borrower has multiple facilities with the bank
7. Purpose Restrictions: Include when facility is restricted to specific uses
8. Foreign Exchange Provisions: Include for facilities in foreign currencies
1. Schedule of Fees: Detailed breakdown of all applicable fees and charges
2. Repayment Schedule: Detailed amortization or repayment schedule if applicable
3. Security Details: Detailed description of security or collateral requirements
4. Standard Terms and Conditions: Bank's standard terms and conditions for credit facilities
5. Required Documents Checklist: List of documents required for facility drawdown
6. Facility-Specific Terms: Special terms applicable to specific type of facility
7. Interest Calculation Examples: Illustrative examples of interest calculations
8. Direct Debit Mandate Form: Form for setting up automatic repayments if applicable
Authors
Relevant legal definitions
Availability Period
Banking Day
Base Rate
Borrower
Business Day
Collateral
Conditions Precedent
Credit Facility
Default Interest Rate
Event of Default
Facility Amount
Facility Period
Final Repayment Date
Financial Indebtedness
Financial Statements
Interest Payment Date
Interest Period
Interest Rate
Lender
Letter of Offer
Margin
Material Adverse Change
Maturity Date
Outstanding Amount
Permitted Security Interest
Purpose
Reference Rate
Repayment Date
Repayment Schedule
Security
Security Documents
Security Provider
Standard Terms and Conditions
Subsidiary
Tax
Term
Utilization
Utilization Date
Utilization Request
Banking Day
Base Rate
Borrower
Business Day
Collateral
Conditions Precedent
Credit Facility
Default Interest Rate
Event of Default
Facility Amount
Facility Period
Final Repayment Date
Financial Indebtedness
Financial Statements
Interest Payment Date
Interest Period
Interest Rate
Lender
Letter of Offer
Margin
Material Adverse Change
Maturity Date
Outstanding Amount
Permitted Security Interest
Purpose
Reference Rate
Repayment Date
Repayment Schedule
Security
Security Documents
Security Provider
Standard Terms and Conditions
Subsidiary
Tax
Term
Utilization
Utilization Date
Utilization Request
Clauses
Facility Terms
Interest and Fees
Repayment
Security
Conditions Precedent
Representations and Warranties
Covenants
Events of Default
Acceleration
Set-off
Assignment and Transfer
Notices
Governing Law
Jurisdiction
Force Majeure
Confidentiality
Data Protection
Anti-Money Laundering
Amendment and Variation
Severability
Costs and Expenses
Indemnification
Insurance
Financial Reporting
Undertakings
Cross-Default
Material Adverse Change
Availability
Purpose
Disbursement
Interest and Fees
Repayment
Security
Conditions Precedent
Representations and Warranties
Covenants
Events of Default
Acceleration
Set-off
Assignment and Transfer
Notices
Governing Law
Jurisdiction
Force Majeure
Confidentiality
Data Protection
Anti-Money Laundering
Amendment and Variation
Severability
Costs and Expenses
Indemnification
Insurance
Financial Reporting
Undertakings
Cross-Default
Material Adverse Change
Availability
Purpose
Disbursement
Relevant Industries
Banking and Financial Services
Corporate Finance
Real Estate and Property Development
Manufacturing
Retail and Commerce
Hospitality and Tourism
Healthcare
Technology and Communications
Construction
Transport and Logistics
Agriculture
Professional Services
Energy and Utilities
Relevant Teams
Legal
Compliance
Credit Risk
Corporate Banking
Retail Banking
Credit Administration
Document Management
Risk Management
Treasury
Operations
Client Relations
Credit Analysis
Due Diligence
Regulatory Affairs
Relevant Roles
Credit Manager
Relationship Manager
Legal Counsel
Compliance Officer
Risk Manager
Credit Analyst
Banking Officer
Chief Financial Officer
Finance Director
Treasury Manager
Corporate Banking Manager
Retail Banking Manager
Credit Administration Officer
Document Controller
Senior Loan Officer
Branch Manager
Financial Controller
Company Secretary
Due Diligence Officer
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