Borrowers may request to extend their current loans rather than negotiating new ones.
Loan extensions are part of the transaction lifecycle. Their purpose is to increase the initial term to maturity of the transaction.
Extension options that are part of the original agreement, as well as extensions negotiated at a later stage can now be tracked in Fairways Debt.
Note: These extensions only apply to standard loans, cash facilities, credit facilities and their drawings with bullet or extended constant annuity amortization.
See Extend a Standard Loan, a Cash Facility or a Credit Facility and Enable a Contractual Extension Option for more information.