The client or their financial adviser will arrange a multi-currency loan facility with a suitable bank. HOW TO PROCEED
The client will meet with ECU to receive a detailed explanation of how a multi-currency loan works, and assess their suitability for the programme. The client will then need to arrange their loan with one of a number of banks that provide multi-currency loan facilities. ECU's FEES
Following the drawdown of a managed multi-currency loan facility, ECU will monitor and switch the currency of the loan, with the objective of achieving a reduction in both the debt and interest payments.
After each currency switch, ECU will notify the client of the new currencies in which the loan is denominated, the exchange rates obtained and the current GBP value of the loan.
ECU sends bi-annual statements showing any interest cost differential and loan value, together with an invoice for any performance fees due, if applicable.
Interest is paid to the lender at the 7-day LIBOR (London Inter Bank Offered Rate) applicable to the debt currency, plus the bank's lending margin.
A client can terminate ECU's mandate at any time without notice or penalty.
The ECU Group plc
Tel: 44 (0) 207 399 4600.
Registered in England No. 02296619.
Authorised and Regulated by the
Financial Conduct Authority.