Agency Services

What are agents?

Agents are firms with qualified people and teams who provide services in support of bond, loan and escrow transactions.

What TMF Group can do for you

TMF Group can provide agency roles globally. As an independent service provider we’re able to deliver a conflict-free service for the benefit of borrowers, lenders and other transaction parties.

We provide agency services to support a wide variety of transactions including syndicated loans, escrows, corporate bonds, project finance and a wide range of structured finance products.

The roles we can perform include:

Collateral agent

A collateral agent, also referred to as administrative agent, holds collateral on behalf of lenders as security. TMF Group can provide collateral agent services across our global footprint.

For USA transactions involving international collateral we are able to contract out of our Wallstreet office, under local law, acting as master agent. This means that our experienced NYC team will manage all of the respect jurisdictions through the relevant TMF offices and act as your single point of contact.

Facility agent

The facility agent is appointed by the lenders and is responsible for the flow of funds and information through the transaction. The facility agent coordinates loan drawdown; calculates interest on loan style floating rate notes collects and distributes interest and principal; and represents lenders in monitoring and reminding the borrower of their covenant obligations.

Verification agent.

The role of a verification agent is to determine that cash flow in a transaction is large enough to make payments. In the case of a refunded bond the verification agent determines whether the cash flow from the securities purchased will be sufficient to make remaining debt service payments on the refunded bonds until the bonds are called or are mature.

Security Agent

A security agent is appointed to take responsibility for the legal pledging of security to a debt obligation. Security agent roles are seen on syndicated loans, bilateral loans and secured corporate bonds. Common security pledged includes shares, cash, plant & machinery and land. TMF Group is able to offer security agent services either on a stand-alone basis, or in conjunction with a broader suite of agency services in support of both bond and loan transactions.

Escrow agent

The role of an escrow agent is to independently represent two distinct parties in a transaction where there is the need for assets to be ring fenced while various conditions are met. For TMF Group this includes the holding of either cash or other assets on behalf of the contracting parties. More information on these services can be found here.

Registered agent

A registered agent, also referred to as statutory agent or resident agent, under United States business law, is designated to receive ‘service of process’ in a legal action such as a law suit or summons. The registered agent’s address can also be used as a business’ main address for receiving official papers such as periodic renewals of charter entries.

Paying agent

A paying agent distributes payments to noteholders, generally via a clearing and settlement system, on behalf of the issuer. TMF Group can also perform the principal paying agent and issuing and paying agent role in certain markets.

Transfer agent 

A transfer agent is required when dealing with registered securities where there is the need to maintain a register of holders and deal with transfers as a consequence of secondary market trading.

Calculation agent 

A calculation agent is appointed to calculate interest on floating rate notes, using a pre-determined margin over a reference rate i.e. LIBOR, EURIBOR or SIBOR.

The term calculation agent is also often seen in project finance deals and relates to calculating and distributing funds using pre-determined formulas and conditions, subject to approvals from lenders and other parties involved in the financing.

Process Agent

International companies who have entered into legal agreements in a foreign jurisdiction, and need to appoint a local agent to accept service of process, can appoint a process agent. The agent can also receive notices on behalf of overseas companies with or without a locally registered branch. Find out more on our Process Agent services.

Why TMF Group?

Local knowledge is essential. While laws and regulations can be broadly the same worldwide, there can be many local level differences.

With offices in more than 80 jurisdictions, TMF Group has the local knowledge to help. Our team of more than 7,000 experts have knowledge of national-level requirements, legislation and regulations, allowing us to execute complex work easily.

There are many other reasons to do business with TMF Group:

  • We are independent, offering you a non-conflicted service
  • We have a broad range of market-leading and fully customisable administration services
  • Our systems and processes are designed to manage complex transactions
  • TMF Group’s work covers a broad range of asset classes including syndicated loans plain vanilla ABS, esoteric asset finance, repacks, distressed assets, high yield bonds, project finance, securitisations and CDOs, corporate bonds and Islamic finance

Should you be interested in our agency services or have any questions, please fill in our ‘Make an enquiry’ form with details of your request and we will get in touch.

Case Studies

We have happy clients around the world, that we have helped to grow and to streamline their operations.

View our case studies