Multicurrency loans

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Multicurrency loans

Gives the borrower the possibility of drawing a loan in different currencies.

Multicurrency Loans

Loans in which the borrower, at his/her discretion, may receive the funds from the loans in more than one currency. Some multicurrency loans only use two currencies, while others give the borrower the choice of several currencies. Multicurrency loans are particularly useful to multinational corporations that wish to reduce the foreign exchange risk in financing a project that may need to occur in several countries at once. See also: Dual currency issue.
References in periodicals archive ?
Provision of a multi-currency loan to finance the construction and operation of a hybrid solar plant combining photovoltaic (PV), concentrated solar power (CSP) and thermal and battery storage technologies with 800 MW of installed capacity and 5 hours of energy storage, located in the region of Midelt, Eastern Morocco (the Project).
The credit facility also provides an incremental uncommitted multi-currency loan facility for another USD1.25bn, which may be increased as provided in the amendment and restatement and be used to fund acquisitions and for other permitted purposes.
The European Bank for Reconstruction and Development (EBRD) is boosting its support for the financial sector in Tajikistan with a multi-currency loan facility, equivalent to US$ 5 million, to AccessBank Tajikistan CJSC for the benefit of its micro, small and medium-sized enterprise (MSME) customers.
The multi-currency loan sought by India's top producer of the alloy includes two seven-year facilities of 1.8 billion euros and $1.5 billion, a 700 million-pound ($1.2 billion) six-year revolving credit facility and a 370 million- euro five-year term loan, the person said.
Investcorp completed a new $529m multi-currency loan facility in June with international and Gulf banks.
Equinix used the proceeds from the new credit facility to repay term loans of its Asia-Pacific subsidiaries under a USD200m multi-currency loan arrangement of 10 May 2010.
30 December 2011 - Swedish mining and smelting group Boliden AB (STO: BOL) said today the European Investment Bank (EIB) had granted it a multi-currency loan of up to EUR85m for the expansion of an electronic scrap-recycling facility.
Emirates NBD raised $410 million (Dh1.5 billion) last week through a multi-currency loan structured around its portfolio of syndicated loans to corporates.
The five-year, multi-currency loan provided by the Industrial and Commercial Bank of China is on terms, TCT says, that are more favourable than an outgoing loan provided by Credit Suisse, which was due for repayment in October 2010.
December's USD106m repayment is the remaining balance on a USD145m multi-currency loan facility drawn in 2003 to refinance other debts according to a company spokesperson.
This revolving loan facility matures on 14 January 2019 and the new facility also provides an incremental uncommitted multi-currency loan facility for another USD1.25bn that may be increased and be used to finance acquisitions and for other permitted purposes.
26 April 2012 - Gazprombank and Raiffeisen Bank International AG have acted as mandated lead arrangers for the multi-currency loan of up to USD750m (EUR567m) to Russian mid-sized Antipinsky oil refinery, the Russian bank said on Thursday.
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