Menu

The expanding scope of the Coronavirus has created uncertainty and anxiety on a global scale, encompassing both public health and economic impacts. As business leaders around the world grapple with a wide range of questions, Paul Hastings is here to help.

 

RECENT ARTICLES

Recent Articles

PH COVID-19 Client Alert Series: U.K. Government Funding for Companies

Mar 25, 2020, 06:18 AM
Publication Type(s):
Client Alerts
Exlcude on home page:
No

The U.K. government has introduced a series of financial measures in order to boost and support the economy during the period of uncertainty and difficulty caused by the spread of COVID-19.

Broadly, financial support has been split into two regimes:

  • Small and medium-sized enterprises ("SMEs") can receive government-backed loan guarantees; and
  • significant businesses that make a material contribution to the U.K. economy can apply for a commercial paper programme backstopped by the Treasury.

This note summarises the eligibility requirements of the key financial measures so that business owners and management can make informed decisions in these unusual times.

SME Support – The Coronavirus Business Interruption Loan Scheme

1.    Can I apply?

Aimed at SMEs and provided by British Business Bank (“BBB”).

Applicants must be:

  • U.K. based;
  • have a turnover of no more than £41 million per annum;
  • operate within an eligible industry (see Schedule 1); and
  • have a comprehensive borrowing proposal (a suitable security package would be a challenge for the borrower).

Full eligibility criteria are due to be published by the BBB in due course.

2.    What support can I get?

You can apply to an accredited lender (see below) for a facility up to a maximum of £5m.

Key terms:

  • the government will guarantee 80% of the debt; and
  • the first year is interest free (the government will pay the interest for that period);

The products offered are not narrow in scope, with term loans, overdrafts, invoice finance facilities, and asset finance facilities, amongst others, included. The term will vary, depending on the product, but broadly: (i) revolving/invoice facilities up to 3 years; and (ii) term loans and asset finance up to ten years (minimum term 3 months).

3.    How do I apply?

Financing will be provided by at least 40 accredited third-party lenders (including many High Street lenders). See the full list here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/.

The application for financial support is made directly to the accredited lender (in the same manner as a borrower would apply for regular bank finance).

4.    When will this be available?

The expectation is the scheme will be available the week of 23 March 2020.

Significant Businesses – The Covid Corporate Financing Facility

1.    What is the scheme?

Aimed at fundamentally strong, larger corporate institutions and is provided by the Bank of England (the “Bank”).

Eligible U.K. incorporated companies (and their foreign parents) will be able to sell commercial paper to the Bank. Companies can sell existing commercial paper or make a new issuance.

H.M. Treasury has fully underwritten the scheme and will operate for at least 12 months (and for as long as is needed to relieve pressures on firms who make a strategic contribution to the U.K. economy).

There is no cap, as this is a bespoke programme.

2.    Can I apply?

Companies need to play a significant role in the U.K. economy. Guidance on this is vague, but key factors include:

  • genuine business in the U.K.;
  • the level of employment;
  • headquarters in the U.K.;
  • a large customer base in the U.K.;
  • the number of operating sites in the U.K.; and
  • the amount of revenue generated in the U.K.

Other conditions of the scheme are:

  • not open to financial firms (i.e., banks);
  • maturity of the commercial paper must between one week to 12 months and issued directly into Euroclear and/or Clearstream;
  • as of 1 March 2020, the business must have had a credit rating of A-3/P-3/F-3 from at least one of S&P or Moody's and Fitch; and
  • the Bank has not yet confirmed whether companies will also need to offer collateral.

3.    How do I apply?

Issuers will be able to apply to the Bank of England from 23 March 2020.

Application for the scheme is made via completion of an application form available at the following address: https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility. A simple series of questions regarding the name, nature, and credit rating, among other requirements, of the company must be included.

However, banks looking to issue commercial paper on behalf on their clients should contact the Bank via CCFFeligibleissuers@bankofengland.gsi.gov.uk to discuss terms and eligibility of the commercial paper to comply with the scheme.

Following application by an Issuer, the Bank will review the application and revert as quickly as possible. If the Bank is able to confirm eligibility before 16:00 on a business day, the Issuer will be able to sell the commercial paper to the Bank on the following working day.

 

IsRss:
  • europe
  • client alerts
  • cares act

Related professionals

Linked PracticeAreas

10 comments

Leave a comment
  1. lospis espo | Jul 08, 2020
  2. rogerlagasca | Jul 08, 2020
    Hi there! Nice post! Please tell us when I will see a follow up! buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours Hello I am so delighted I located your blog, I really located you by mistake, while I was watching on google for something else, Anyways I am here now and could just like to say thank for a tremendous post and a all round entertaining website. Please do keep up the great work.
  3. rogerlagasca | Jul 06, 2020
    I am definitely enjoying your website. You definitely have some great insight and great stories. managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา It is a great website.. The Design looks very good.. Keep working like that!. 
  4. rogerlagasca | Jul 06, 2020
    Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work! smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel I really loved reading your blog. It was very well authored and easy to undertand. Unlike additional blogs I have read which are really not tht good. I also found your posts very interesting. In fact after reading, I had to go show it to my friend and he ejoyed it as well!
  5. fadre cerde | Jul 03, 2020
  6. rogerlagasca | Jul 03, 2020
  7. rogerlagasca | Jul 02, 2020
  8. rogerlagasca | Jul 01, 2020
  9. rogerlagasca | Jul 01, 2020
    An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers.  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers. 
  10. rogerlagasca | Jun 30, 2020
    i was just browsing along and came upon your blog. just wanted to say good blog and this article really helped me. Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  This blog website is pretty cool! How was it made !

    Leave a comment

    Client Alert

    PH COVID-19 Client Alert Series: U.K. Government Funding for Companies

    Mar 25, 2020, 06:18 AM
    Publication Type(s):
    Client Alerts
    Exlcude on home page:
    No

    The U.K. government has introduced a series of financial measures in order to boost and support the economy during the period of uncertainty and difficulty caused by the spread of COVID-19.

    Broadly, financial support has been split into two regimes:

    • Small and medium-sized enterprises ("SMEs") can receive government-backed loan guarantees; and
    • significant businesses that make a material contribution to the U.K. economy can apply for a commercial paper programme backstopped by the Treasury.

    This note summarises the eligibility requirements of the key financial measures so that business owners and management can make informed decisions in these unusual times.

    SME Support – The Coronavirus Business Interruption Loan Scheme

    1.    Can I apply?

    Aimed at SMEs and provided by British Business Bank (“BBB”).

    Applicants must be:

    • U.K. based;
    • have a turnover of no more than £41 million per annum;
    • operate within an eligible industry (see Schedule 1); and
    • have a comprehensive borrowing proposal (a suitable security package would be a challenge for the borrower).

    Full eligibility criteria are due to be published by the BBB in due course.

    2.    What support can I get?

    You can apply to an accredited lender (see below) for a facility up to a maximum of £5m.

    Key terms:

    • the government will guarantee 80% of the debt; and
    • the first year is interest free (the government will pay the interest for that period);

    The products offered are not narrow in scope, with term loans, overdrafts, invoice finance facilities, and asset finance facilities, amongst others, included. The term will vary, depending on the product, but broadly: (i) revolving/invoice facilities up to 3 years; and (ii) term loans and asset finance up to ten years (minimum term 3 months).

    3.    How do I apply?

    Financing will be provided by at least 40 accredited third-party lenders (including many High Street lenders). See the full list here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/.

    The application for financial support is made directly to the accredited lender (in the same manner as a borrower would apply for regular bank finance).

    4.    When will this be available?

    The expectation is the scheme will be available the week of 23 March 2020.

    Significant Businesses – The Covid Corporate Financing Facility

    1.    What is the scheme?

    Aimed at fundamentally strong, larger corporate institutions and is provided by the Bank of England (the “Bank”).

    Eligible U.K. incorporated companies (and their foreign parents) will be able to sell commercial paper to the Bank. Companies can sell existing commercial paper or make a new issuance.

    H.M. Treasury has fully underwritten the scheme and will operate for at least 12 months (and for as long as is needed to relieve pressures on firms who make a strategic contribution to the U.K. economy).

    There is no cap, as this is a bespoke programme.

    2.    Can I apply?

    Companies need to play a significant role in the U.K. economy. Guidance on this is vague, but key factors include:

    • genuine business in the U.K.;
    • the level of employment;
    • headquarters in the U.K.;
    • a large customer base in the U.K.;
    • the number of operating sites in the U.K.; and
    • the amount of revenue generated in the U.K.

    Other conditions of the scheme are:

    • not open to financial firms (i.e., banks);
    • maturity of the commercial paper must between one week to 12 months and issued directly into Euroclear and/or Clearstream;
    • as of 1 March 2020, the business must have had a credit rating of A-3/P-3/F-3 from at least one of S&P or Moody's and Fitch; and
    • the Bank has not yet confirmed whether companies will also need to offer collateral.

    3.    How do I apply?

    Issuers will be able to apply to the Bank of England from 23 March 2020.

    Application for the scheme is made via completion of an application form available at the following address: https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility. A simple series of questions regarding the name, nature, and credit rating, among other requirements, of the company must be included.

    However, banks looking to issue commercial paper on behalf on their clients should contact the Bank via CCFFeligibleissuers@bankofengland.gsi.gov.uk to discuss terms and eligibility of the commercial paper to comply with the scheme.

    Following application by an Issuer, the Bank will review the application and revert as quickly as possible. If the Bank is able to confirm eligibility before 16:00 on a business day, the Issuer will be able to sell the commercial paper to the Bank on the following working day.

     

    IsRss:
    • europe
    • client alerts
    • cares act

    Related professionals

    Linked PracticeAreas

    10 comments

    Leave a comment
    1. lospis espo | Jul 08, 2020
    2. rogerlagasca | Jul 08, 2020
      Hi there! Nice post! Please tell us when I will see a follow up! buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours Hello I am so delighted I located your blog, I really located you by mistake, while I was watching on google for something else, Anyways I am here now and could just like to say thank for a tremendous post and a all round entertaining website. Please do keep up the great work.
    3. rogerlagasca | Jul 06, 2020
      I am definitely enjoying your website. You definitely have some great insight and great stories. managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา It is a great website.. The Design looks very good.. Keep working like that!. 
    4. rogerlagasca | Jul 06, 2020
      Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work! smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel I really loved reading your blog. It was very well authored and easy to undertand. Unlike additional blogs I have read which are really not tht good. I also found your posts very interesting. In fact after reading, I had to go show it to my friend and he ejoyed it as well!
    5. fadre cerde | Jul 03, 2020
    6. rogerlagasca | Jul 03, 2020
    7. rogerlagasca | Jul 02, 2020
    8. rogerlagasca | Jul 01, 2020
    9. rogerlagasca | Jul 01, 2020
      An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers.  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers. 
    10. rogerlagasca | Jun 30, 2020
      i was just browsing along and came upon your blog. just wanted to say good blog and this article really helped me. Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  This blog website is pretty cool! How was it made !

      Leave a comment

      LABOR & EMPLOYMENT

      PH COVID-19 Client Alert Series: U.K. Government Funding for Companies

      Mar 25, 2020, 06:18 AM
      Publication Type(s):
      Client Alerts
      Exlcude on home page:
      No

      The U.K. government has introduced a series of financial measures in order to boost and support the economy during the period of uncertainty and difficulty caused by the spread of COVID-19.

      Broadly, financial support has been split into two regimes:

      • Small and medium-sized enterprises ("SMEs") can receive government-backed loan guarantees; and
      • significant businesses that make a material contribution to the U.K. economy can apply for a commercial paper programme backstopped by the Treasury.

      This note summarises the eligibility requirements of the key financial measures so that business owners and management can make informed decisions in these unusual times.

      SME Support – The Coronavirus Business Interruption Loan Scheme

      1.    Can I apply?

      Aimed at SMEs and provided by British Business Bank (“BBB”).

      Applicants must be:

      • U.K. based;
      • have a turnover of no more than £41 million per annum;
      • operate within an eligible industry (see Schedule 1); and
      • have a comprehensive borrowing proposal (a suitable security package would be a challenge for the borrower).

      Full eligibility criteria are due to be published by the BBB in due course.

      2.    What support can I get?

      You can apply to an accredited lender (see below) for a facility up to a maximum of £5m.

      Key terms:

      • the government will guarantee 80% of the debt; and
      • the first year is interest free (the government will pay the interest for that period);

      The products offered are not narrow in scope, with term loans, overdrafts, invoice finance facilities, and asset finance facilities, amongst others, included. The term will vary, depending on the product, but broadly: (i) revolving/invoice facilities up to 3 years; and (ii) term loans and asset finance up to ten years (minimum term 3 months).

      3.    How do I apply?

      Financing will be provided by at least 40 accredited third-party lenders (including many High Street lenders). See the full list here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/.

      The application for financial support is made directly to the accredited lender (in the same manner as a borrower would apply for regular bank finance).

      4.    When will this be available?

      The expectation is the scheme will be available the week of 23 March 2020.

      Significant Businesses – The Covid Corporate Financing Facility

      1.    What is the scheme?

      Aimed at fundamentally strong, larger corporate institutions and is provided by the Bank of England (the “Bank”).

      Eligible U.K. incorporated companies (and their foreign parents) will be able to sell commercial paper to the Bank. Companies can sell existing commercial paper or make a new issuance.

      H.M. Treasury has fully underwritten the scheme and will operate for at least 12 months (and for as long as is needed to relieve pressures on firms who make a strategic contribution to the U.K. economy).

      There is no cap, as this is a bespoke programme.

      2.    Can I apply?

      Companies need to play a significant role in the U.K. economy. Guidance on this is vague, but key factors include:

      • genuine business in the U.K.;
      • the level of employment;
      • headquarters in the U.K.;
      • a large customer base in the U.K.;
      • the number of operating sites in the U.K.; and
      • the amount of revenue generated in the U.K.

      Other conditions of the scheme are:

      • not open to financial firms (i.e., banks);
      • maturity of the commercial paper must between one week to 12 months and issued directly into Euroclear and/or Clearstream;
      • as of 1 March 2020, the business must have had a credit rating of A-3/P-3/F-3 from at least one of S&P or Moody's and Fitch; and
      • the Bank has not yet confirmed whether companies will also need to offer collateral.

      3.    How do I apply?

      Issuers will be able to apply to the Bank of England from 23 March 2020.

      Application for the scheme is made via completion of an application form available at the following address: https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility. A simple series of questions regarding the name, nature, and credit rating, among other requirements, of the company must be included.

      However, banks looking to issue commercial paper on behalf on their clients should contact the Bank via CCFFeligibleissuers@bankofengland.gsi.gov.uk to discuss terms and eligibility of the commercial paper to comply with the scheme.

      Following application by an Issuer, the Bank will review the application and revert as quickly as possible. If the Bank is able to confirm eligibility before 16:00 on a business day, the Issuer will be able to sell the commercial paper to the Bank on the following working day.

       

      IsRss:
      • europe
      • client alerts
      • cares act

      Related professionals

      Linked PracticeAreas

      10 comments

      Leave a comment
      1. lospis espo | Jul 08, 2020
      2. rogerlagasca | Jul 08, 2020
        Hi there! Nice post! Please tell us when I will see a follow up! buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours Hello I am so delighted I located your blog, I really located you by mistake, while I was watching on google for something else, Anyways I am here now and could just like to say thank for a tremendous post and a all round entertaining website. Please do keep up the great work.
      3. rogerlagasca | Jul 06, 2020
        I am definitely enjoying your website. You definitely have some great insight and great stories. managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา It is a great website.. The Design looks very good.. Keep working like that!. 
      4. rogerlagasca | Jul 06, 2020
        Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work! smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel I really loved reading your blog. It was very well authored and easy to undertand. Unlike additional blogs I have read which are really not tht good. I also found your posts very interesting. In fact after reading, I had to go show it to my friend and he ejoyed it as well!
      5. fadre cerde | Jul 03, 2020
      6. rogerlagasca | Jul 03, 2020
      7. rogerlagasca | Jul 02, 2020
      8. rogerlagasca | Jul 01, 2020
      9. rogerlagasca | Jul 01, 2020
        An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers.  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers. 
      10. rogerlagasca | Jun 30, 2020
        i was just browsing along and came upon your blog. just wanted to say good blog and this article really helped me. Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  This blog website is pretty cool! How was it made !

        Leave a comment

        FINANCIAL REGULATION & THE CARES ACT

        PH COVID-19 Client Alert Series: U.K. Government Funding for Companies

        Mar 25, 2020, 06:18 AM
        Publication Type(s):
        Client Alerts
        Exlcude on home page:
        No

        The U.K. government has introduced a series of financial measures in order to boost and support the economy during the period of uncertainty and difficulty caused by the spread of COVID-19.

        Broadly, financial support has been split into two regimes:

        • Small and medium-sized enterprises ("SMEs") can receive government-backed loan guarantees; and
        • significant businesses that make a material contribution to the U.K. economy can apply for a commercial paper programme backstopped by the Treasury.

        This note summarises the eligibility requirements of the key financial measures so that business owners and management can make informed decisions in these unusual times.

        SME Support – The Coronavirus Business Interruption Loan Scheme

        1.    Can I apply?

        Aimed at SMEs and provided by British Business Bank (“BBB”).

        Applicants must be:

        • U.K. based;
        • have a turnover of no more than £41 million per annum;
        • operate within an eligible industry (see Schedule 1); and
        • have a comprehensive borrowing proposal (a suitable security package would be a challenge for the borrower).

        Full eligibility criteria are due to be published by the BBB in due course.

        2.    What support can I get?

        You can apply to an accredited lender (see below) for a facility up to a maximum of £5m.

        Key terms:

        • the government will guarantee 80% of the debt; and
        • the first year is interest free (the government will pay the interest for that period);

        The products offered are not narrow in scope, with term loans, overdrafts, invoice finance facilities, and asset finance facilities, amongst others, included. The term will vary, depending on the product, but broadly: (i) revolving/invoice facilities up to 3 years; and (ii) term loans and asset finance up to ten years (minimum term 3 months).

        3.    How do I apply?

        Financing will be provided by at least 40 accredited third-party lenders (including many High Street lenders). See the full list here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/.

        The application for financial support is made directly to the accredited lender (in the same manner as a borrower would apply for regular bank finance).

        4.    When will this be available?

        The expectation is the scheme will be available the week of 23 March 2020.

        Significant Businesses – The Covid Corporate Financing Facility

        1.    What is the scheme?

        Aimed at fundamentally strong, larger corporate institutions and is provided by the Bank of England (the “Bank”).

        Eligible U.K. incorporated companies (and their foreign parents) will be able to sell commercial paper to the Bank. Companies can sell existing commercial paper or make a new issuance.

        H.M. Treasury has fully underwritten the scheme and will operate for at least 12 months (and for as long as is needed to relieve pressures on firms who make a strategic contribution to the U.K. economy).

        There is no cap, as this is a bespoke programme.

        2.    Can I apply?

        Companies need to play a significant role in the U.K. economy. Guidance on this is vague, but key factors include:

        • genuine business in the U.K.;
        • the level of employment;
        • headquarters in the U.K.;
        • a large customer base in the U.K.;
        • the number of operating sites in the U.K.; and
        • the amount of revenue generated in the U.K.

        Other conditions of the scheme are:

        • not open to financial firms (i.e., banks);
        • maturity of the commercial paper must between one week to 12 months and issued directly into Euroclear and/or Clearstream;
        • as of 1 March 2020, the business must have had a credit rating of A-3/P-3/F-3 from at least one of S&P or Moody's and Fitch; and
        • the Bank has not yet confirmed whether companies will also need to offer collateral.

        3.    How do I apply?

        Issuers will be able to apply to the Bank of England from 23 March 2020.

        Application for the scheme is made via completion of an application form available at the following address: https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility. A simple series of questions regarding the name, nature, and credit rating, among other requirements, of the company must be included.

        However, banks looking to issue commercial paper on behalf on their clients should contact the Bank via CCFFeligibleissuers@bankofengland.gsi.gov.uk to discuss terms and eligibility of the commercial paper to comply with the scheme.

        Following application by an Issuer, the Bank will review the application and revert as quickly as possible. If the Bank is able to confirm eligibility before 16:00 on a business day, the Issuer will be able to sell the commercial paper to the Bank on the following working day.

         

        IsRss:
        • europe
        • client alerts
        • cares act

        Related professionals

        Linked PracticeAreas

        10 comments

        Leave a comment
        1. lospis espo | Jul 08, 2020
        2. rogerlagasca | Jul 08, 2020
          Hi there! Nice post! Please tell us when I will see a follow up! buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours Hello I am so delighted I located your blog, I really located you by mistake, while I was watching on google for something else, Anyways I am here now and could just like to say thank for a tremendous post and a all round entertaining website. Please do keep up the great work.
        3. rogerlagasca | Jul 06, 2020
          I am definitely enjoying your website. You definitely have some great insight and great stories. managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา It is a great website.. The Design looks very good.. Keep working like that!. 
        4. rogerlagasca | Jul 06, 2020
          Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work! smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel I really loved reading your blog. It was very well authored and easy to undertand. Unlike additional blogs I have read which are really not tht good. I also found your posts very interesting. In fact after reading, I had to go show it to my friend and he ejoyed it as well!
        5. fadre cerde | Jul 03, 2020
        6. rogerlagasca | Jul 03, 2020
        7. rogerlagasca | Jul 02, 2020
        8. rogerlagasca | Jul 01, 2020
        9. rogerlagasca | Jul 01, 2020
          An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers.  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers. 
        10. rogerlagasca | Jun 30, 2020
          i was just browsing along and came upon your blog. just wanted to say good blog and this article really helped me. Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  This blog website is pretty cool! How was it made !

          Leave a comment

          ASSET MANAGEMENT

          PH COVID-19 Client Alert Series: U.K. Government Funding for Companies

          Mar 25, 2020, 06:18 AM
          Publication Type(s):
          Client Alerts
          Exlcude on home page:
          No

          The U.K. government has introduced a series of financial measures in order to boost and support the economy during the period of uncertainty and difficulty caused by the spread of COVID-19.

          Broadly, financial support has been split into two regimes:

          • Small and medium-sized enterprises ("SMEs") can receive government-backed loan guarantees; and
          • significant businesses that make a material contribution to the U.K. economy can apply for a commercial paper programme backstopped by the Treasury.

          This note summarises the eligibility requirements of the key financial measures so that business owners and management can make informed decisions in these unusual times.

          SME Support – The Coronavirus Business Interruption Loan Scheme

          1.    Can I apply?

          Aimed at SMEs and provided by British Business Bank (“BBB”).

          Applicants must be:

          • U.K. based;
          • have a turnover of no more than £41 million per annum;
          • operate within an eligible industry (see Schedule 1); and
          • have a comprehensive borrowing proposal (a suitable security package would be a challenge for the borrower).

          Full eligibility criteria are due to be published by the BBB in due course.

          2.    What support can I get?

          You can apply to an accredited lender (see below) for a facility up to a maximum of £5m.

          Key terms:

          • the government will guarantee 80% of the debt; and
          • the first year is interest free (the government will pay the interest for that period);

          The products offered are not narrow in scope, with term loans, overdrafts, invoice finance facilities, and asset finance facilities, amongst others, included. The term will vary, depending on the product, but broadly: (i) revolving/invoice facilities up to 3 years; and (ii) term loans and asset finance up to ten years (minimum term 3 months).

          3.    How do I apply?

          Financing will be provided by at least 40 accredited third-party lenders (including many High Street lenders). See the full list here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/.

          The application for financial support is made directly to the accredited lender (in the same manner as a borrower would apply for regular bank finance).

          4.    When will this be available?

          The expectation is the scheme will be available the week of 23 March 2020.

          Significant Businesses – The Covid Corporate Financing Facility

          1.    What is the scheme?

          Aimed at fundamentally strong, larger corporate institutions and is provided by the Bank of England (the “Bank”).

          Eligible U.K. incorporated companies (and their foreign parents) will be able to sell commercial paper to the Bank. Companies can sell existing commercial paper or make a new issuance.

          H.M. Treasury has fully underwritten the scheme and will operate for at least 12 months (and for as long as is needed to relieve pressures on firms who make a strategic contribution to the U.K. economy).

          There is no cap, as this is a bespoke programme.

          2.    Can I apply?

          Companies need to play a significant role in the U.K. economy. Guidance on this is vague, but key factors include:

          • genuine business in the U.K.;
          • the level of employment;
          • headquarters in the U.K.;
          • a large customer base in the U.K.;
          • the number of operating sites in the U.K.; and
          • the amount of revenue generated in the U.K.

          Other conditions of the scheme are:

          • not open to financial firms (i.e., banks);
          • maturity of the commercial paper must between one week to 12 months and issued directly into Euroclear and/or Clearstream;
          • as of 1 March 2020, the business must have had a credit rating of A-3/P-3/F-3 from at least one of S&P or Moody's and Fitch; and
          • the Bank has not yet confirmed whether companies will also need to offer collateral.

          3.    How do I apply?

          Issuers will be able to apply to the Bank of England from 23 March 2020.

          Application for the scheme is made via completion of an application form available at the following address: https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility. A simple series of questions regarding the name, nature, and credit rating, among other requirements, of the company must be included.

          However, banks looking to issue commercial paper on behalf on their clients should contact the Bank via CCFFeligibleissuers@bankofengland.gsi.gov.uk to discuss terms and eligibility of the commercial paper to comply with the scheme.

          Following application by an Issuer, the Bank will review the application and revert as quickly as possible. If the Bank is able to confirm eligibility before 16:00 on a business day, the Issuer will be able to sell the commercial paper to the Bank on the following working day.

           

          IsRss:
          • europe
          • client alerts
          • cares act

          Related professionals

          Linked PracticeAreas

          10 comments

          Leave a comment
          1. lospis espo | Jul 08, 2020
          2. rogerlagasca | Jul 08, 2020
            Hi there! Nice post! Please tell us when I will see a follow up! buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours Hello I am so delighted I located your blog, I really located you by mistake, while I was watching on google for something else, Anyways I am here now and could just like to say thank for a tremendous post and a all round entertaining website. Please do keep up the great work.
          3. rogerlagasca | Jul 06, 2020
            I am definitely enjoying your website. You definitely have some great insight and great stories. managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา It is a great website.. The Design looks very good.. Keep working like that!. 
          4. rogerlagasca | Jul 06, 2020
            Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work! smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel I really loved reading your blog. It was very well authored and easy to undertand. Unlike additional blogs I have read which are really not tht good. I also found your posts very interesting. In fact after reading, I had to go show it to my friend and he ejoyed it as well!
          5. fadre cerde | Jul 03, 2020
          6. rogerlagasca | Jul 03, 2020
          7. rogerlagasca | Jul 02, 2020
          8. rogerlagasca | Jul 01, 2020
          9. rogerlagasca | Jul 01, 2020
            An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers.  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers. 
          10. rogerlagasca | Jun 30, 2020
            i was just browsing along and came upon your blog. just wanted to say good blog and this article really helped me. Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  This blog website is pretty cool! How was it made !

            Leave a comment

            TAX LAW

            PH COVID-19 Client Alert Series: U.K. Government Funding for Companies

            Mar 25, 2020, 06:18 AM
            Publication Type(s):
            Client Alerts
            Exlcude on home page:
            No

            The U.K. government has introduced a series of financial measures in order to boost and support the economy during the period of uncertainty and difficulty caused by the spread of COVID-19.

            Broadly, financial support has been split into two regimes:

            • Small and medium-sized enterprises ("SMEs") can receive government-backed loan guarantees; and
            • significant businesses that make a material contribution to the U.K. economy can apply for a commercial paper programme backstopped by the Treasury.

            This note summarises the eligibility requirements of the key financial measures so that business owners and management can make informed decisions in these unusual times.

            SME Support – The Coronavirus Business Interruption Loan Scheme

            1.    Can I apply?

            Aimed at SMEs and provided by British Business Bank (“BBB”).

            Applicants must be:

            • U.K. based;
            • have a turnover of no more than £41 million per annum;
            • operate within an eligible industry (see Schedule 1); and
            • have a comprehensive borrowing proposal (a suitable security package would be a challenge for the borrower).

            Full eligibility criteria are due to be published by the BBB in due course.

            2.    What support can I get?

            You can apply to an accredited lender (see below) for a facility up to a maximum of £5m.

            Key terms:

            • the government will guarantee 80% of the debt; and
            • the first year is interest free (the government will pay the interest for that period);

            The products offered are not narrow in scope, with term loans, overdrafts, invoice finance facilities, and asset finance facilities, amongst others, included. The term will vary, depending on the product, but broadly: (i) revolving/invoice facilities up to 3 years; and (ii) term loans and asset finance up to ten years (minimum term 3 months).

            3.    How do I apply?

            Financing will be provided by at least 40 accredited third-party lenders (including many High Street lenders). See the full list here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/.

            The application for financial support is made directly to the accredited lender (in the same manner as a borrower would apply for regular bank finance).

            4.    When will this be available?

            The expectation is the scheme will be available the week of 23 March 2020.

            Significant Businesses – The Covid Corporate Financing Facility

            1.    What is the scheme?

            Aimed at fundamentally strong, larger corporate institutions and is provided by the Bank of England (the “Bank”).

            Eligible U.K. incorporated companies (and their foreign parents) will be able to sell commercial paper to the Bank. Companies can sell existing commercial paper or make a new issuance.

            H.M. Treasury has fully underwritten the scheme and will operate for at least 12 months (and for as long as is needed to relieve pressures on firms who make a strategic contribution to the U.K. economy).

            There is no cap, as this is a bespoke programme.

            2.    Can I apply?

            Companies need to play a significant role in the U.K. economy. Guidance on this is vague, but key factors include:

            • genuine business in the U.K.;
            • the level of employment;
            • headquarters in the U.K.;
            • a large customer base in the U.K.;
            • the number of operating sites in the U.K.; and
            • the amount of revenue generated in the U.K.

            Other conditions of the scheme are:

            • not open to financial firms (i.e., banks);
            • maturity of the commercial paper must between one week to 12 months and issued directly into Euroclear and/or Clearstream;
            • as of 1 March 2020, the business must have had a credit rating of A-3/P-3/F-3 from at least one of S&P or Moody's and Fitch; and
            • the Bank has not yet confirmed whether companies will also need to offer collateral.

            3.    How do I apply?

            Issuers will be able to apply to the Bank of England from 23 March 2020.

            Application for the scheme is made via completion of an application form available at the following address: https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility. A simple series of questions regarding the name, nature, and credit rating, among other requirements, of the company must be included.

            However, banks looking to issue commercial paper on behalf on their clients should contact the Bank via CCFFeligibleissuers@bankofengland.gsi.gov.uk to discuss terms and eligibility of the commercial paper to comply with the scheme.

            Following application by an Issuer, the Bank will review the application and revert as quickly as possible. If the Bank is able to confirm eligibility before 16:00 on a business day, the Issuer will be able to sell the commercial paper to the Bank on the following working day.

             

            IsRss:
            • europe
            • client alerts
            • cares act

            Related professionals

            Linked PracticeAreas

            10 comments

            Leave a comment
            1. lospis espo | Jul 08, 2020
            2. rogerlagasca | Jul 08, 2020
              Hi there! Nice post! Please tell us when I will see a follow up! buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours Hello I am so delighted I located your blog, I really located you by mistake, while I was watching on google for something else, Anyways I am here now and could just like to say thank for a tremendous post and a all round entertaining website. Please do keep up the great work.
            3. rogerlagasca | Jul 06, 2020
              I am definitely enjoying your website. You definitely have some great insight and great stories. managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา It is a great website.. The Design looks very good.. Keep working like that!. 
            4. rogerlagasca | Jul 06, 2020
              Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work! smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel I really loved reading your blog. It was very well authored and easy to undertand. Unlike additional blogs I have read which are really not tht good. I also found your posts very interesting. In fact after reading, I had to go show it to my friend and he ejoyed it as well!
            5. fadre cerde | Jul 03, 2020
            6. rogerlagasca | Jul 03, 2020
            7. rogerlagasca | Jul 02, 2020
            8. rogerlagasca | Jul 01, 2020
            9. rogerlagasca | Jul 01, 2020
              An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers.  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers. 
            10. rogerlagasca | Jun 30, 2020
              i was just browsing along and came upon your blog. just wanted to say good blog and this article really helped me. Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  This blog website is pretty cool! How was it made !

              Leave a comment

              REAL ESTATE & HOSPITALITY

              PH COVID-19 Client Alert Series: U.K. Government Funding for Companies

              Mar 25, 2020, 06:18 AM
              Publication Type(s):
              Client Alerts
              Exlcude on home page:
              No

              The U.K. government has introduced a series of financial measures in order to boost and support the economy during the period of uncertainty and difficulty caused by the spread of COVID-19.

              Broadly, financial support has been split into two regimes:

              • Small and medium-sized enterprises ("SMEs") can receive government-backed loan guarantees; and
              • significant businesses that make a material contribution to the U.K. economy can apply for a commercial paper programme backstopped by the Treasury.

              This note summarises the eligibility requirements of the key financial measures so that business owners and management can make informed decisions in these unusual times.

              SME Support – The Coronavirus Business Interruption Loan Scheme

              1.    Can I apply?

              Aimed at SMEs and provided by British Business Bank (“BBB”).

              Applicants must be:

              • U.K. based;
              • have a turnover of no more than £41 million per annum;
              • operate within an eligible industry (see Schedule 1); and
              • have a comprehensive borrowing proposal (a suitable security package would be a challenge for the borrower).

              Full eligibility criteria are due to be published by the BBB in due course.

              2.    What support can I get?

              You can apply to an accredited lender (see below) for a facility up to a maximum of £5m.

              Key terms:

              • the government will guarantee 80% of the debt; and
              • the first year is interest free (the government will pay the interest for that period);

              The products offered are not narrow in scope, with term loans, overdrafts, invoice finance facilities, and asset finance facilities, amongst others, included. The term will vary, depending on the product, but broadly: (i) revolving/invoice facilities up to 3 years; and (ii) term loans and asset finance up to ten years (minimum term 3 months).

              3.    How do I apply?

              Financing will be provided by at least 40 accredited third-party lenders (including many High Street lenders). See the full list here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/.

              The application for financial support is made directly to the accredited lender (in the same manner as a borrower would apply for regular bank finance).

              4.    When will this be available?

              The expectation is the scheme will be available the week of 23 March 2020.

              Significant Businesses – The Covid Corporate Financing Facility

              1.    What is the scheme?

              Aimed at fundamentally strong, larger corporate institutions and is provided by the Bank of England (the “Bank”).

              Eligible U.K. incorporated companies (and their foreign parents) will be able to sell commercial paper to the Bank. Companies can sell existing commercial paper or make a new issuance.

              H.M. Treasury has fully underwritten the scheme and will operate for at least 12 months (and for as long as is needed to relieve pressures on firms who make a strategic contribution to the U.K. economy).

              There is no cap, as this is a bespoke programme.

              2.    Can I apply?

              Companies need to play a significant role in the U.K. economy. Guidance on this is vague, but key factors include:

              • genuine business in the U.K.;
              • the level of employment;
              • headquarters in the U.K.;
              • a large customer base in the U.K.;
              • the number of operating sites in the U.K.; and
              • the amount of revenue generated in the U.K.

              Other conditions of the scheme are:

              • not open to financial firms (i.e., banks);
              • maturity of the commercial paper must between one week to 12 months and issued directly into Euroclear and/or Clearstream;
              • as of 1 March 2020, the business must have had a credit rating of A-3/P-3/F-3 from at least one of S&P or Moody's and Fitch; and
              • the Bank has not yet confirmed whether companies will also need to offer collateral.

              3.    How do I apply?

              Issuers will be able to apply to the Bank of England from 23 March 2020.

              Application for the scheme is made via completion of an application form available at the following address: https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility. A simple series of questions regarding the name, nature, and credit rating, among other requirements, of the company must be included.

              However, banks looking to issue commercial paper on behalf on their clients should contact the Bank via CCFFeligibleissuers@bankofengland.gsi.gov.uk to discuss terms and eligibility of the commercial paper to comply with the scheme.

              Following application by an Issuer, the Bank will review the application and revert as quickly as possible. If the Bank is able to confirm eligibility before 16:00 on a business day, the Issuer will be able to sell the commercial paper to the Bank on the following working day.

               

              IsRss:
              • europe
              • client alerts
              • cares act

              Related professionals

              Linked PracticeAreas

              10 comments

              Leave a comment
              1. lospis espo | Jul 08, 2020
              2. rogerlagasca | Jul 08, 2020
                Hi there! Nice post! Please tell us when I will see a follow up! buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours Hello I am so delighted I located your blog, I really located you by mistake, while I was watching on google for something else, Anyways I am here now and could just like to say thank for a tremendous post and a all round entertaining website. Please do keep up the great work.
              3. rogerlagasca | Jul 06, 2020
                I am definitely enjoying your website. You definitely have some great insight and great stories. managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา It is a great website.. The Design looks very good.. Keep working like that!. 
              4. rogerlagasca | Jul 06, 2020
                Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work! smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel I really loved reading your blog. It was very well authored and easy to undertand. Unlike additional blogs I have read which are really not tht good. I also found your posts very interesting. In fact after reading, I had to go show it to my friend and he ejoyed it as well!
              5. fadre cerde | Jul 03, 2020
              6. rogerlagasca | Jul 03, 2020
              7. rogerlagasca | Jul 02, 2020
              8. rogerlagasca | Jul 01, 2020
              9. rogerlagasca | Jul 01, 2020
                An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers.  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers. 
              10. rogerlagasca | Jun 30, 2020
                i was just browsing along and came upon your blog. just wanted to say good blog and this article really helped me. Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  This blog website is pretty cool! How was it made !

                Leave a comment

                DISPUTES

                PH COVID-19 Client Alert Series: U.K. Government Funding for Companies

                Mar 25, 2020, 06:18 AM
                Publication Type(s):
                Client Alerts
                Exlcude on home page:
                No

                The U.K. government has introduced a series of financial measures in order to boost and support the economy during the period of uncertainty and difficulty caused by the spread of COVID-19.

                Broadly, financial support has been split into two regimes:

                • Small and medium-sized enterprises ("SMEs") can receive government-backed loan guarantees; and
                • significant businesses that make a material contribution to the U.K. economy can apply for a commercial paper programme backstopped by the Treasury.

                This note summarises the eligibility requirements of the key financial measures so that business owners and management can make informed decisions in these unusual times.

                SME Support – The Coronavirus Business Interruption Loan Scheme

                1.    Can I apply?

                Aimed at SMEs and provided by British Business Bank (“BBB”).

                Applicants must be:

                • U.K. based;
                • have a turnover of no more than £41 million per annum;
                • operate within an eligible industry (see Schedule 1); and
                • have a comprehensive borrowing proposal (a suitable security package would be a challenge for the borrower).

                Full eligibility criteria are due to be published by the BBB in due course.

                2.    What support can I get?

                You can apply to an accredited lender (see below) for a facility up to a maximum of £5m.

                Key terms:

                • the government will guarantee 80% of the debt; and
                • the first year is interest free (the government will pay the interest for that period);

                The products offered are not narrow in scope, with term loans, overdrafts, invoice finance facilities, and asset finance facilities, amongst others, included. The term will vary, depending on the product, but broadly: (i) revolving/invoice facilities up to 3 years; and (ii) term loans and asset finance up to ten years (minimum term 3 months).

                3.    How do I apply?

                Financing will be provided by at least 40 accredited third-party lenders (including many High Street lenders). See the full list here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/.

                The application for financial support is made directly to the accredited lender (in the same manner as a borrower would apply for regular bank finance).

                4.    When will this be available?

                The expectation is the scheme will be available the week of 23 March 2020.

                Significant Businesses – The Covid Corporate Financing Facility

                1.    What is the scheme?

                Aimed at fundamentally strong, larger corporate institutions and is provided by the Bank of England (the “Bank”).

                Eligible U.K. incorporated companies (and their foreign parents) will be able to sell commercial paper to the Bank. Companies can sell existing commercial paper or make a new issuance.

                H.M. Treasury has fully underwritten the scheme and will operate for at least 12 months (and for as long as is needed to relieve pressures on firms who make a strategic contribution to the U.K. economy).

                There is no cap, as this is a bespoke programme.

                2.    Can I apply?

                Companies need to play a significant role in the U.K. economy. Guidance on this is vague, but key factors include:

                • genuine business in the U.K.;
                • the level of employment;
                • headquarters in the U.K.;
                • a large customer base in the U.K.;
                • the number of operating sites in the U.K.; and
                • the amount of revenue generated in the U.K.

                Other conditions of the scheme are:

                • not open to financial firms (i.e., banks);
                • maturity of the commercial paper must between one week to 12 months and issued directly into Euroclear and/or Clearstream;
                • as of 1 March 2020, the business must have had a credit rating of A-3/P-3/F-3 from at least one of S&P or Moody's and Fitch; and
                • the Bank has not yet confirmed whether companies will also need to offer collateral.

                3.    How do I apply?

                Issuers will be able to apply to the Bank of England from 23 March 2020.

                Application for the scheme is made via completion of an application form available at the following address: https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility. A simple series of questions regarding the name, nature, and credit rating, among other requirements, of the company must be included.

                However, banks looking to issue commercial paper on behalf on their clients should contact the Bank via CCFFeligibleissuers@bankofengland.gsi.gov.uk to discuss terms and eligibility of the commercial paper to comply with the scheme.

                Following application by an Issuer, the Bank will review the application and revert as quickly as possible. If the Bank is able to confirm eligibility before 16:00 on a business day, the Issuer will be able to sell the commercial paper to the Bank on the following working day.

                 

                IsRss:
                • europe
                • client alerts
                • cares act

                Related professionals

                Linked PracticeAreas

                10 comments

                Leave a comment
                1. lospis espo | Jul 08, 2020
                2. rogerlagasca | Jul 08, 2020
                  Hi there! Nice post! Please tell us when I will see a follow up! buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours Hello I am so delighted I located your blog, I really located you by mistake, while I was watching on google for something else, Anyways I am here now and could just like to say thank for a tremendous post and a all round entertaining website. Please do keep up the great work.
                3. rogerlagasca | Jul 06, 2020
                  I am definitely enjoying your website. You definitely have some great insight and great stories. managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา It is a great website.. The Design looks very good.. Keep working like that!. 
                4. rogerlagasca | Jul 06, 2020
                  Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work! smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel I really loved reading your blog. It was very well authored and easy to undertand. Unlike additional blogs I have read which are really not tht good. I also found your posts very interesting. In fact after reading, I had to go show it to my friend and he ejoyed it as well!
                5. fadre cerde | Jul 03, 2020
                6. rogerlagasca | Jul 03, 2020
                7. rogerlagasca | Jul 02, 2020
                8. rogerlagasca | Jul 01, 2020
                9. rogerlagasca | Jul 01, 2020
                  An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers.  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers. 
                10. rogerlagasca | Jun 30, 2020
                  i was just browsing along and came upon your blog. just wanted to say good blog and this article really helped me. Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  This blog website is pretty cool! How was it made !

                  Leave a comment

                  PRIVACY & CYBERSECURITY

                  PH COVID-19 Client Alert Series: U.K. Government Funding for Companies

                  Mar 25, 2020, 06:18 AM
                  Publication Type(s):
                  Client Alerts
                  Exlcude on home page:
                  No

                  The U.K. government has introduced a series of financial measures in order to boost and support the economy during the period of uncertainty and difficulty caused by the spread of COVID-19.

                  Broadly, financial support has been split into two regimes:

                  • Small and medium-sized enterprises ("SMEs") can receive government-backed loan guarantees; and
                  • significant businesses that make a material contribution to the U.K. economy can apply for a commercial paper programme backstopped by the Treasury.

                  This note summarises the eligibility requirements of the key financial measures so that business owners and management can make informed decisions in these unusual times.

                  SME Support – The Coronavirus Business Interruption Loan Scheme

                  1.    Can I apply?

                  Aimed at SMEs and provided by British Business Bank (“BBB”).

                  Applicants must be:

                  • U.K. based;
                  • have a turnover of no more than £41 million per annum;
                  • operate within an eligible industry (see Schedule 1); and
                  • have a comprehensive borrowing proposal (a suitable security package would be a challenge for the borrower).

                  Full eligibility criteria are due to be published by the BBB in due course.

                  2.    What support can I get?

                  You can apply to an accredited lender (see below) for a facility up to a maximum of £5m.

                  Key terms:

                  • the government will guarantee 80% of the debt; and
                  • the first year is interest free (the government will pay the interest for that period);

                  The products offered are not narrow in scope, with term loans, overdrafts, invoice finance facilities, and asset finance facilities, amongst others, included. The term will vary, depending on the product, but broadly: (i) revolving/invoice facilities up to 3 years; and (ii) term loans and asset finance up to ten years (minimum term 3 months).

                  3.    How do I apply?

                  Financing will be provided by at least 40 accredited third-party lenders (including many High Street lenders). See the full list here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/.

                  The application for financial support is made directly to the accredited lender (in the same manner as a borrower would apply for regular bank finance).

                  4.    When will this be available?

                  The expectation is the scheme will be available the week of 23 March 2020.

                  Significant Businesses – The Covid Corporate Financing Facility

                  1.    What is the scheme?

                  Aimed at fundamentally strong, larger corporate institutions and is provided by the Bank of England (the “Bank”).

                  Eligible U.K. incorporated companies (and their foreign parents) will be able to sell commercial paper to the Bank. Companies can sell existing commercial paper or make a new issuance.

                  H.M. Treasury has fully underwritten the scheme and will operate for at least 12 months (and for as long as is needed to relieve pressures on firms who make a strategic contribution to the U.K. economy).

                  There is no cap, as this is a bespoke programme.

                  2.    Can I apply?

                  Companies need to play a significant role in the U.K. economy. Guidance on this is vague, but key factors include:

                  • genuine business in the U.K.;
                  • the level of employment;
                  • headquarters in the U.K.;
                  • a large customer base in the U.K.;
                  • the number of operating sites in the U.K.; and
                  • the amount of revenue generated in the U.K.

                  Other conditions of the scheme are:

                  • not open to financial firms (i.e., banks);
                  • maturity of the commercial paper must between one week to 12 months and issued directly into Euroclear and/or Clearstream;
                  • as of 1 March 2020, the business must have had a credit rating of A-3/P-3/F-3 from at least one of S&P or Moody's and Fitch; and
                  • the Bank has not yet confirmed whether companies will also need to offer collateral.

                  3.    How do I apply?

                  Issuers will be able to apply to the Bank of England from 23 March 2020.

                  Application for the scheme is made via completion of an application form available at the following address: https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility. A simple series of questions regarding the name, nature, and credit rating, among other requirements, of the company must be included.

                  However, banks looking to issue commercial paper on behalf on their clients should contact the Bank via CCFFeligibleissuers@bankofengland.gsi.gov.uk to discuss terms and eligibility of the commercial paper to comply with the scheme.

                  Following application by an Issuer, the Bank will review the application and revert as quickly as possible. If the Bank is able to confirm eligibility before 16:00 on a business day, the Issuer will be able to sell the commercial paper to the Bank on the following working day.

                   

                  IsRss:
                  • europe
                  • client alerts
                  • cares act

                  Related professionals

                  Linked PracticeAreas

                  10 comments

                  Leave a comment
                  1. lospis espo | Jul 08, 2020
                  2. rogerlagasca | Jul 08, 2020
                    Hi there! Nice post! Please tell us when I will see a follow up! buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours Hello I am so delighted I located your blog, I really located you by mistake, while I was watching on google for something else, Anyways I am here now and could just like to say thank for a tremendous post and a all round entertaining website. Please do keep up the great work.
                  3. rogerlagasca | Jul 06, 2020
                    I am definitely enjoying your website. You definitely have some great insight and great stories. managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา It is a great website.. The Design looks very good.. Keep working like that!. 
                  4. rogerlagasca | Jul 06, 2020
                    Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work! smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel I really loved reading your blog. It was very well authored and easy to undertand. Unlike additional blogs I have read which are really not tht good. I also found your posts very interesting. In fact after reading, I had to go show it to my friend and he ejoyed it as well!
                  5. fadre cerde | Jul 03, 2020
                  6. rogerlagasca | Jul 03, 2020
                  7. rogerlagasca | Jul 02, 2020
                  8. rogerlagasca | Jul 01, 2020
                  9. rogerlagasca | Jul 01, 2020
                    An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers.  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers. 
                  10. rogerlagasca | Jun 30, 2020
                    i was just browsing along and came upon your blog. just wanted to say good blog and this article really helped me. Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  This blog website is pretty cool! How was it made !

                    Leave a comment

                    SECURITIES & CAPITAL MARKETS

                    PH COVID-19 Client Alert Series: U.K. Government Funding for Companies

                    Mar 25, 2020, 06:18 AM
                    Publication Type(s):
                    Client Alerts
                    Exlcude on home page:
                    No

                    The U.K. government has introduced a series of financial measures in order to boost and support the economy during the period of uncertainty and difficulty caused by the spread of COVID-19.

                    Broadly, financial support has been split into two regimes:

                    • Small and medium-sized enterprises ("SMEs") can receive government-backed loan guarantees; and
                    • significant businesses that make a material contribution to the U.K. economy can apply for a commercial paper programme backstopped by the Treasury.

                    This note summarises the eligibility requirements of the key financial measures so that business owners and management can make informed decisions in these unusual times.

                    SME Support – The Coronavirus Business Interruption Loan Scheme

                    1.    Can I apply?

                    Aimed at SMEs and provided by British Business Bank (“BBB”).

                    Applicants must be:

                    • U.K. based;
                    • have a turnover of no more than £41 million per annum;
                    • operate within an eligible industry (see Schedule 1); and
                    • have a comprehensive borrowing proposal (a suitable security package would be a challenge for the borrower).

                    Full eligibility criteria are due to be published by the BBB in due course.

                    2.    What support can I get?

                    You can apply to an accredited lender (see below) for a facility up to a maximum of £5m.

                    Key terms:

                    • the government will guarantee 80% of the debt; and
                    • the first year is interest free (the government will pay the interest for that period);

                    The products offered are not narrow in scope, with term loans, overdrafts, invoice finance facilities, and asset finance facilities, amongst others, included. The term will vary, depending on the product, but broadly: (i) revolving/invoice facilities up to 3 years; and (ii) term loans and asset finance up to ten years (minimum term 3 months).

                    3.    How do I apply?

                    Financing will be provided by at least 40 accredited third-party lenders (including many High Street lenders). See the full list here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/.

                    The application for financial support is made directly to the accredited lender (in the same manner as a borrower would apply for regular bank finance).

                    4.    When will this be available?

                    The expectation is the scheme will be available the week of 23 March 2020.

                    Significant Businesses – The Covid Corporate Financing Facility

                    1.    What is the scheme?

                    Aimed at fundamentally strong, larger corporate institutions and is provided by the Bank of England (the “Bank”).

                    Eligible U.K. incorporated companies (and their foreign parents) will be able to sell commercial paper to the Bank. Companies can sell existing commercial paper or make a new issuance.

                    H.M. Treasury has fully underwritten the scheme and will operate for at least 12 months (and for as long as is needed to relieve pressures on firms who make a strategic contribution to the U.K. economy).

                    There is no cap, as this is a bespoke programme.

                    2.    Can I apply?

                    Companies need to play a significant role in the U.K. economy. Guidance on this is vague, but key factors include:

                    • genuine business in the U.K.;
                    • the level of employment;
                    • headquarters in the U.K.;
                    • a large customer base in the U.K.;
                    • the number of operating sites in the U.K.; and
                    • the amount of revenue generated in the U.K.

                    Other conditions of the scheme are:

                    • not open to financial firms (i.e., banks);
                    • maturity of the commercial paper must between one week to 12 months and issued directly into Euroclear and/or Clearstream;
                    • as of 1 March 2020, the business must have had a credit rating of A-3/P-3/F-3 from at least one of S&P or Moody's and Fitch; and
                    • the Bank has not yet confirmed whether companies will also need to offer collateral.

                    3.    How do I apply?

                    Issuers will be able to apply to the Bank of England from 23 March 2020.

                    Application for the scheme is made via completion of an application form available at the following address: https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility. A simple series of questions regarding the name, nature, and credit rating, among other requirements, of the company must be included.

                    However, banks looking to issue commercial paper on behalf on their clients should contact the Bank via CCFFeligibleissuers@bankofengland.gsi.gov.uk to discuss terms and eligibility of the commercial paper to comply with the scheme.

                    Following application by an Issuer, the Bank will review the application and revert as quickly as possible. If the Bank is able to confirm eligibility before 16:00 on a business day, the Issuer will be able to sell the commercial paper to the Bank on the following working day.

                     

                    IsRss:
                    • europe
                    • client alerts
                    • cares act

                    Related professionals

                    Linked PracticeAreas

                    10 comments

                    Leave a comment
                    1. lospis espo | Jul 08, 2020
                    2. rogerlagasca | Jul 08, 2020
                      Hi there! Nice post! Please tell us when I will see a follow up! buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours Hello I am so delighted I located your blog, I really located you by mistake, while I was watching on google for something else, Anyways I am here now and could just like to say thank for a tremendous post and a all round entertaining website. Please do keep up the great work.
                    3. rogerlagasca | Jul 06, 2020
                      I am definitely enjoying your website. You definitely have some great insight and great stories. managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา It is a great website.. The Design looks very good.. Keep working like that!. 
                    4. rogerlagasca | Jul 06, 2020
                      Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work! smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel I really loved reading your blog. It was very well authored and easy to undertand. Unlike additional blogs I have read which are really not tht good. I also found your posts very interesting. In fact after reading, I had to go show it to my friend and he ejoyed it as well!
                    5. fadre cerde | Jul 03, 2020
                    6. rogerlagasca | Jul 03, 2020
                    7. rogerlagasca | Jul 02, 2020
                    8. rogerlagasca | Jul 01, 2020
                    9. rogerlagasca | Jul 01, 2020
                      An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers.  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers. 
                    10. rogerlagasca | Jun 30, 2020
                      i was just browsing along and came upon your blog. just wanted to say good blog and this article really helped me. Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  This blog website is pretty cool! How was it made !

                      Leave a comment

                      EUROPE

                      PH COVID-19 Client Alert Series: U.K. Government Funding for Companies

                      Mar 25, 2020, 06:18 AM
                      Publication Type(s):
                      Client Alerts
                      Exlcude on home page:
                      No

                      The U.K. government has introduced a series of financial measures in order to boost and support the economy during the period of uncertainty and difficulty caused by the spread of COVID-19.

                      Broadly, financial support has been split into two regimes:

                      • Small and medium-sized enterprises ("SMEs") can receive government-backed loan guarantees; and
                      • significant businesses that make a material contribution to the U.K. economy can apply for a commercial paper programme backstopped by the Treasury.

                      This note summarises the eligibility requirements of the key financial measures so that business owners and management can make informed decisions in these unusual times.

                      SME Support – The Coronavirus Business Interruption Loan Scheme

                      1.    Can I apply?

                      Aimed at SMEs and provided by British Business Bank (“BBB”).

                      Applicants must be:

                      • U.K. based;
                      • have a turnover of no more than £41 million per annum;
                      • operate within an eligible industry (see Schedule 1); and
                      • have a comprehensive borrowing proposal (a suitable security package would be a challenge for the borrower).

                      Full eligibility criteria are due to be published by the BBB in due course.

                      2.    What support can I get?

                      You can apply to an accredited lender (see below) for a facility up to a maximum of £5m.

                      Key terms:

                      • the government will guarantee 80% of the debt; and
                      • the first year is interest free (the government will pay the interest for that period);

                      The products offered are not narrow in scope, with term loans, overdrafts, invoice finance facilities, and asset finance facilities, amongst others, included. The term will vary, depending on the product, but broadly: (i) revolving/invoice facilities up to 3 years; and (ii) term loans and asset finance up to ten years (minimum term 3 months).

                      3.    How do I apply?

                      Financing will be provided by at least 40 accredited third-party lenders (including many High Street lenders). See the full list here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/.

                      The application for financial support is made directly to the accredited lender (in the same manner as a borrower would apply for regular bank finance).

                      4.    When will this be available?

                      The expectation is the scheme will be available the week of 23 March 2020.

                      Significant Businesses – The Covid Corporate Financing Facility

                      1.    What is the scheme?

                      Aimed at fundamentally strong, larger corporate institutions and is provided by the Bank of England (the “Bank”).

                      Eligible U.K. incorporated companies (and their foreign parents) will be able to sell commercial paper to the Bank. Companies can sell existing commercial paper or make a new issuance.

                      H.M. Treasury has fully underwritten the scheme and will operate for at least 12 months (and for as long as is needed to relieve pressures on firms who make a strategic contribution to the U.K. economy).

                      There is no cap, as this is a bespoke programme.

                      2.    Can I apply?

                      Companies need to play a significant role in the U.K. economy. Guidance on this is vague, but key factors include:

                      • genuine business in the U.K.;
                      • the level of employment;
                      • headquarters in the U.K.;
                      • a large customer base in the U.K.;
                      • the number of operating sites in the U.K.; and
                      • the amount of revenue generated in the U.K.

                      Other conditions of the scheme are:

                      • not open to financial firms (i.e., banks);
                      • maturity of the commercial paper must between one week to 12 months and issued directly into Euroclear and/or Clearstream;
                      • as of 1 March 2020, the business must have had a credit rating of A-3/P-3/F-3 from at least one of S&P or Moody's and Fitch; and
                      • the Bank has not yet confirmed whether companies will also need to offer collateral.

                      3.    How do I apply?

                      Issuers will be able to apply to the Bank of England from 23 March 2020.

                      Application for the scheme is made via completion of an application form available at the following address: https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility. A simple series of questions regarding the name, nature, and credit rating, among other requirements, of the company must be included.

                      However, banks looking to issue commercial paper on behalf on their clients should contact the Bank via CCFFeligibleissuers@bankofengland.gsi.gov.uk to discuss terms and eligibility of the commercial paper to comply with the scheme.

                      Following application by an Issuer, the Bank will review the application and revert as quickly as possible. If the Bank is able to confirm eligibility before 16:00 on a business day, the Issuer will be able to sell the commercial paper to the Bank on the following working day.

                       

                      IsRss:
                      • europe
                      • client alerts
                      • cares act

                      Related professionals

                      Linked PracticeAreas

                      10 comments

                      Leave a comment
                      1. lospis espo | Jul 08, 2020
                      2. rogerlagasca | Jul 08, 2020
                        Hi there! Nice post! Please tell us when I will see a follow up! buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours buy youtube watch hours Hello I am so delighted I located your blog, I really located you by mistake, while I was watching on google for something else, Anyways I am here now and could just like to say thank for a tremendous post and a all round entertaining website. Please do keep up the great work.
                      3. rogerlagasca | Jul 06, 2020
                        I am definitely enjoying your website. You definitely have some great insight and great stories. managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา managed it services torontoา It is a great website.. The Design looks very good.. Keep working like that!. 
                      4. rogerlagasca | Jul 06, 2020
                        Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work! smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel smm panel I really loved reading your blog. It was very well authored and easy to undertand. Unlike additional blogs I have read which are really not tht good. I also found your posts very interesting. In fact after reading, I had to go show it to my friend and he ejoyed it as well!
                      5. fadre cerde | Jul 03, 2020
                      6. rogerlagasca | Jul 03, 2020
                      7. rogerlagasca | Jul 02, 2020
                      8. rogerlagasca | Jul 01, 2020
                      9. rogerlagasca | Jul 01, 2020
                        An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers.  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers. 
                      10. rogerlagasca | Jun 30, 2020
                        i was just browsing along and came upon your blog. just wanted to say good blog and this article really helped me. Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  Sharkbyte software development  This blog website is pretty cool! How was it made !

                        Leave a comment

                        LATIN AMERICA

                        PH COVID-19 Client Alert Series: U.K. Government Funding for Companies

                        Mar 25, 2020, 06:18 AM
                        Publication Type(s):
                        Client Alerts
                        Exlcude on home page:
                        No

                        The U.K. government has introduced a series of financial measures in order to boost and support the economy during the period of uncertainty and difficulty caused by the spread of COVID-19.

                        Broadly, financial support has been split into two regimes:

                        • Small and medium-sized enterprises ("SMEs") can receive government-backed loan guarantees; and
                        • significant businesses that make a material contribution to the U.K. economy can apply for a commercial paper programme backstopped by the Treasury.

                        This note summarises the eligibility requirements of the key financial measures so that business owners and management can make informed decisions in these unusual times.

                        SME Support – The Coronavirus Business Interruption Loan Scheme

                        1.    Can I apply?

                        Aimed at SMEs and provided by British Business Bank (“BBB”).

                        Applicants must be:

                        • U.K. based;
                        • have a turnover of no more than £41 million per annum;
                        • operate within an eligible industry (see Schedule 1); and
                        • have a comprehensive borrowing proposal (a suitable security package would be a challenge for the borrower).

                        Full eligibility criteria are due to be published by the BBB in due course.

                        2.    What support can I get?

                        You can apply to an accredited lender (see below) for a facility up to a maximum of £5m.

                        Key terms:

                        • the government will guarantee 80% of the debt; and
                        • the first year is interest free (the government will pay the interest for that period);

                        The products offered are not narrow in scope, with term loans, overdrafts, invoice finance facilities, and asset finance facilities, amongst others, included. The term will vary, depending on the product, but broadly: (i) revolving/invoice facilities up to 3 years; and (ii) term loans and asset finance up to ten years (minimum term 3 months).

                        3.    How do I apply?

                        Financing will be provided by at least 40 accredited third-party lenders (including many High Street lenders). See the full list here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/.

                        The application for financial support is made directly to the accredited lender (in the same manner as a borrower would apply for regular bank finance).

                        4.    When will this be available?

                        The expectation is the scheme will be available the week of 23 March 2020.

                        Significant Businesses – The Covid Corporate Financing Facility

                        1.    What is the scheme?

                        Aimed at fundamentally strong, larger corporate institutions and is provided by the Bank of England (the “Bank”).

                        Eligible U.K. incorporated companies (and their foreign parents) will be able to sell commercial paper to the Bank. Companies can sell existing commercial paper or make a new issuance.

                        H.M. Treasury has fully underwritten the scheme and will operate for at least 12 months (and for as long as is needed to relieve pressures on firms who make a strategic contribution to the U.K. economy).

                        There is no cap, as this is a bespoke programme.

                        2.    Can I apply?

                        Companies need to play a significant role in the U.K. economy. Guidance on this is vague, but key factors include:

                        • genuine business in the U.K.;
                        • the level of employment;
                        • headquarters in the U.K.;
                        • a large customer base in the U.K.;
                        • the number of operating sites in the U.K.; and
                        • the amount of revenue generated in the U.K.

                        Other conditions of the scheme are:

                        • not open to financial firms (i.e., banks);
                        • maturity of the commercial paper must between one week to 12 months and issued directly into Euroclear and/or Clearstream;
                        • as of 1 March 2020, the business must have had a credit rating of A-3/P-3/F-3 from at least one of S&P or Moody's and Fitch; and
                        • the Bank has not yet confirmed whether companies will also need to offer collateral.

                        3.    How do I apply?

                        Issuers will be able to apply to the Bank of England from 23 March 2020.

                        Application for the scheme is made via completion of an application form available at the following address: https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility. A simple series of questions regarding the name, nature, and credit rating, among other requirements, of the company must be included.

                        However, banks looking to issue commercial paper on behalf on their clients should contact the Bank via CCFFeligibleissuers@bankofengland.gsi.gov.uk to discuss terms and eligibility of the commercial paper to comply with the scheme.

                        Following application by an Issuer, the Bank will review the application and revert as quickly as possible. If the Bank is able to confirm eligibility before 16:00 on a business day, the Issuer will be able to sell the commercial paper to the Bank on the following working day.

                         

                        IsRss:
                        • europe
                        • client alerts
                        • cares act

                        Related professionals

                        Linked PracticeAreas

                        10 comments

                        Leave a comment
                        1. lospis espo | Jul 08, 2020
                        2. rogerlagasca | Jul 08, 2020