Restructuring Plans · glossary
The agent that makes payments on the Notes. It acts for Valkenrade alone, so it has no vote and needs no noteholder’s consent to cancel the Notes. The bank’s London Branch does this job, in a team separate from its lending. Condition 11.1 · Chapter 5
Explained in Chapter 5, Restructuring Terms: New Notes, New Money and Security, of Restructuring Plans.
The main page for this term is Fiscal Agent, in Debt Capital Markets.
The bank also has a second role. Its London Branch is the Fiscal Agent for the Notes, the agent that pays noteholders for Valkenrade. As agent, it acts for Valkenrade alone and has no vote (Condition 11.1). So the bank votes only once, as lender.Read Chapter 5, Restructuring Terms: New Notes, New Money and Security →
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