Posted: February 16th, 2016

Achilles Bank (“Achilles”) is proposing to purchase a $100 million participation from Priam Bank (“Priam”) by way of a funded sub-participation.

Achilles Bank (“Achilles”) is proposing to purchase a $100 million participation from Priam Bank (“Priam”) by way of a funded sub-participation. The participation forms part of a $500 million syndicated loan (the “Syndicated Loan”) made available to Hector Ltd. Priam is a lender of record under the Syndicated Loan for $400 million.
Advise Achilles on the risks it faces in purchasing the participation by way of funded sub-participation and how those risks might be mitigated.
When writing the advice please consult the attached documents. When citing please follow the OSCOLA rules attached.