The Credit Facility Letter is a fundamental banking document used in Malaysia when financial institutions extend credit facilities to borrowers. It represents the formal documentation of a credit approval and serves as the primary agreement governing the lending relationship. Used across various financing scenarios, from corporate lending to project financing, the document must comply with Malaysian banking regulations, including the Financial Services Act 2013 and, where applicable, the Islamic Financial Services Act 2013. The Credit Facility Letter typically follows specific formatting and content requirements established by Malaysian banking practice and regulatory guidelines, incorporating both conventional and Shariah-compliant financing principles where relevant. It acts as a comprehensive record of the facility terms, conditions, and obligations of all parties involved.
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1. Letter Header: Bank's letterhead, date, reference number, and addressee details
2. Facility Overview: Brief introduction stating the approval of the facility and reference to any previous discussions
3. Borrower Details: Full legal name, registration number, and registered address of the borrower
4. Facility Type and Amount: Clear statement of the type of facility and the approved limit
5. Interest Rate and Fees: Applicable interest rates, calculation method, and all associated fees
6. Repayment Terms: Repayment schedule, tenure, and payment mechanisms
7. Security Requirements: Details of required collateral, guarantees, or other security arrangements
8. Conditions Precedent: Conditions that must be fulfilled before the facility becomes available
9. Representations and Covenants: Key promises and ongoing obligations of the borrower
10. Events of Default: Circumstances that would constitute default and consequences
11. Acceptance Section: Space for borrower's acknowledgment and acceptance of terms
1. Islamic Banking Requirements: Additional terms for Shariah-compliant facilities, used when the facility is Islamic-based
2. Trade Finance Specific Terms: Specific terms for trade finance facilities, included when offering trade-related products
3. Foreign Exchange Provisions: Terms related to foreign currency facilities, included for foreign currency denominated facilities
4. Property Financing Terms: Specific terms for property-backed facilities, used when the facility is for property financing
5. Multi-Currency Option: Terms for multi-currency drawing options, included when offering multi-currency facilities
6. Group Security Structure: Details of group-wide security arrangements, used for borrowers part of a larger group
7. Special Conditions: Any customer-specific conditions or requirements, included based on credit assessment
1. Schedule 1 - Facility Details: Detailed breakdown of facility limits, sub-limits, and specific purposes
2. Schedule 2 - Fee Schedule: Comprehensive list of all applicable fees and charges
3. Schedule 3 - Security Documents: List of required security documents and their execution requirements
4. Schedule 4 - Standard Terms and Conditions: Bank's standard terms and conditions applicable to the facility
5. Schedule 5 - Conditions Precedent Checklist: Detailed list of all required documents and conditions to be fulfilled
6. Appendix A - Drawdown Notice Format: Template for drawdown requests
7. Appendix B - Compliance Certificate Format: Template for periodic compliance certification by borrower
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Real Estate and Property Development
Manufacturing
Trading and Commerce
Construction
Agriculture
Technology and Communications
Healthcare
Education
Retail
Hospitality and Tourism
Transportation and Logistics
Energy and Utilities
Mining and Resources
Relevant Teams
Legal
Finance
Treasury
Credit Risk
Compliance
Corporate Banking
Documentation
Operations
Risk Management
Islamic Banking
Corporate Secretarial
Credit Administration
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Corporate Banking Manager
Credit Risk Manager
Relationship Manager
Legal Counsel
Compliance Officer
Credit Analyst
Financial Controller
Company Secretary
Corporate Finance Manager
Banking Operations Manager
Risk Management Officer
Islamic Banking Officer
Documentation Specialist
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