Through the Virtus Loan Agency Platform, firms can unlock new levels of efficiency, speed and transparency.
Direct lending has emerged as a significant opportunity. Most lenders rely on a patchwork of systems and partners, but cobbling together various technologies means slower settlement times, disparate data sources, higher costs of management and limited transparency. Servicing loans requires comprehensive technology, data and quick settlement to effectively operate a direct lending business.
Virtus offers a turnkey solution for Issuers and Direct Lenders to manage your administration process through the entire transaction life-cycle without the expense and maintenance of stand alone loan agency software. Virtus Partners’ Loan Agency solution is powered by ACBS™ and seamlessly integrated into a platform that combines Agency, Primary Settlements, and Fund Accounting services. Our team acts as a neutral third party administrator for all of your transactions.
Our fully integrated solution aims to provide total efficiency through:
Comprehensive Loan Structures – Full coverage of loan types including, term, revolvers, PIK, DIP, workout, mezzanine, unitranche, multi-currency, broadly syndicated, bi-lateral, middle market, and more
Core Loan Agent Administration – Maintain registers, process principal and interest payments, rate sets, and fees, monitor borrowing base and collateral, and act as liaison between borrower, syndicate and sponsors
Trade Administration – Confirm trade documentation, lender eligibility, including AML/KYC, borrower consent and all settlement documentation; option to settle private deals via Virtus Trade Settlement to create an electronic record and facilitate subsequent trades
Cash Management – Manage cash movements on all borrowings, principal, interest and fee payments with tax withholding, as required
Event Management– Coordination/distribution of amendments, consents, waivers and related communications between interested parties
Covenant Tracking – Monitoring and distribution of required covenant information including periodic financial statements, compliance certificates, audit reports, etc
Tax Documentation – Submit appropriate tax reporting as required by government authorities in supported jurisdictions (i.e. 1099, 1042S, etc.)
Special Event Action – Assist creditors, borrowers, steering committees and counsel with events of default, distressed workouts and restructures