Axis Bank is a SEBI registered Debenture Trustee which offers Trusteeship services such as Debenture Trusteeship, Security Trusteeship, Monitoring Agency and Facility Agency.
Axis Bank’s Facility Agent services acts as a communication channel between the borrower and the lenders. The Escrow Agent services include drafting and vetting the escrow agreement, ensuring the account opening, monitoring the flow of proceeds, etc.
Facility agent services
As a facility agent, we act as a communication channel between the borrower and the lenders and our role inter alia includes:
- Confirmation of compliance pre-disbursement conditions to the lenders on receipt of the same from the borrower
- Disseminate information between the borrower and the lenders
- Convening meetings of the lenders on a request from the borrower and vice versa
- Calling for quarterly information from the borrowers
- Monitoring compliance with the terms of issue
Escrow agent services
As an escrow agent, we inter alia:
- Draft and vet the escrow agreement and define the flow as required under the transaction structure
- Ensure the account opening with the escrow band
- Monitor the flow of the proceeds in accordance with the agreement
- Monitor the maintenance of the Debt Service Account and the Debt Service Reserve Account to ensure continuity of debt service
- Call for monthly account statement from the escrow bank