Facility-level accruing fees.
2015-07-15
accruingFeeTypeScheme
1-0
http://www.fpml.org/coding-scheme/accruing-fee-type
http://www.fpml.org/coding-scheme/accruing-fee-type-1-0
http://www.fpml.org/coding-scheme/accruing-fee-type-1-0.xml
Code
63
Source
Description
key
Commitment
FpML
A fee paid by the borrower to keep loan in place until it can be used. For a revolver, the fee paid by a borrower on unused/funded commitments.
Facility
FpML
A fee that is paid on a facility's entire committed amount, regardless of usage; it is often charged on revolving credits to investment grade borrowers instead of a commitment fee because these facilities typically have a competitive-bid option (CBO) that allows a borrower to solicit the best bid from it syndicate group for a given borrowing. The lenders that do not lender until the CBO are still paid for their commitment.
Ticking
FpML
A fee associated with a long-term commitment to provide a Bridge Loan or Credit Facility, which starts accruing the day the Fee Letter is signed (or a specified number of days thereafter) and terminates when the underlying transaction is either consummated or terminated. The Ticking Fee is set forth in the Fee Letter.
Utilization
FpML
Calculated as a percentage of the utilized portion of the facility. This fee type is subject to banding rules – different portions of the utilization amount may be subject to different percentages.