Multicurrency loans

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Multicurrency loans

Gives the borrower the possibility of drawing a loan in different currencies.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
US dollar-denominated multi-currency loans from the World Bank and Asian Development Bank represented 14.5 percent, while the 11.2 percent balance pertained to 15 other currencies, including the Philippine peso and Euro.
The US dollar-denominated multi-currency loans from the World Bank and Asian Development Bank, in the meantime, account for 14.6 percent share to total, while the remaining 11 percent of external debt are denominated in 17 other currencies, including in the local currency, Euro and the International Monetary Fund's special drawing right or SDR.
IFC said that its first local currency financing will address the company's need for flexible borrowing in both Egyptian pounds and US dollars, and will create a model for future multi-currency loans. IFC Director for the Middle East and North Africa Mouayed Makhlouf said that local currency financing is also vital for sustainable private sector investment.
This will address Vinavil Egypt's need for flexible borrowing in both pounds and dollars, and create a model for future multi-currency loans.
This is one of the first multi-currency loans provided by the EBRD to local corporates in Ukraine, with disbursements available both in euro and Ukrainian hryvnia.
US dollar-denominated multi-currency loans from the Asian Development Bank and the World Bank comprised 11.6 percent of the total, while the balance of 11.9 percent pertained to 18 other currencies, including the Philippine peso (7.2 percent).
Nowadays, with the Basel III accord and new banking regulations throughout the region, multi-currency loans came in vogue to permit local banks to lend in local currencies, with new and tighter caps introduced in recent years.
This will be arranged with a major European Bank." Banner also provides a way to take advantage of Japan's ultra low interest rates by arranging multi-currency loans for international property purchases and refinancing options for property in the US, Canada, UK, Australia and New Zealand.
The dollar-denominated multi-currency loans from the World Bank and the Asian Development Bank represented 14.6 percent of total, while the 11 percent balance pertained to 17 other currencies, including the Philippine pesos with six percent, the International Monetary Fund with two percent, and the euro with two percent.
US dollar-denominated multi-currency loans from the World Bank and the Asian Development Bank had an 11.8 percent share to total, while the remaining 11.0 percent consisted of 17 other currencies, including the Philippine Peso (6.6 percent), SDR (2.2 percent), and the Euro (1.5 percent).
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