Administrative Agent

In any credit facility, the Administrative Agent is the operational backbone, ensuring the seamless management of all administrative duties. Aether provides expert, independent agent services, acting as the central point of control and communication between the borrower and the lending syndicate.

Our Role

Aether executes the duties of the Administrative Agent with meticulous attention to detail. Our responsibilities are mechanically comprehensive, designed to provide seamless operational support to all parties. We act as the central point of contact, managing all administrative aspects of the credit facility as prescribed by the loan documentation.

Covenant Monitoring and Reporting

Receiving and distributing all compliance documentation from the borrower, such as financial statements and compliance certificates, and monitoring adherence to the covenants stipulated in the credit agreement.

Interest Rate Management

Calculating and setting all applicable interest rates for each period, managing multi-currency requirements, and issuing all requisite notices to the transaction parties.

Fundsflow and Payment Processing

Managing all financial movements, including the processing of drawdown requests, the collection of principal and interest payments from the borrower, and the subsequent pro-rata distribution to lenders.

Communications Hub

Acting as the primary conduit for all communications between the borrower and the lender group, ensuring information is disseminated accurately and efficiently.

Lifecycle Event Management

Administering all amendments, waivers, consents, and assignments, and maintaining the definitive register of lenders.

The Aether Advantage

The choice of Administrative Agent is a critical determinant of a facility’s operational stability. While the agent’s duties are ministerial, their execution demands a level of expertise and impartiality that is often compromised when the role is held by a participating lender.

Structural Independence

Aether is a truly independent, conflict-free agent. Unlike an agent affiliated with a lender in the syndicate, we have no financial interest in the loan or the borrower. This structural impartiality is paramount in complex or distressed scenarios. Where a lender-agent may face conflicts between its agency duties and its own credit exposure, particularly during a restructuring or default, our actions are governed solely by the loan documentation and the instructions of the requisite lenders. This provides all parties with the assurance of unbiased and decisive administration when it is most critical.

Execution Certainty

We transform a standard administrative function into a source of transactional integrity. The post-closing lifecycle of a syndicated loan is fraught with operational complexity—from managing complex calculations and allocations to processing amendments across multiple tranches and currencies. Legacy systems and fragmented workflows often introduce risk and inefficiency. Aether FS mitigates this risk through specialised expertise and robust, proprietary systems. We provide flawless execution, ensuring the mechanics of the facility are as sound as its commercial terms.

Confidential Consultation

To discuss the appointment of an independent Administrative Agent for your credit facility, please contact us.