Note Issuance Facility (NIF)
Note Issuance Facility (NIF) offers a good mix of capital market and syndicated loan operations. Note Issuance Facility is a usual medium term, floating rate, funding instrument – it is a long-term position for the investor who has shifted their performance for short term in view of the country risks of some less developed countries. NIF is a medium term arrangement under which borrowers can issue short term papers (called a Euro note) with the underwriting support of the commercial banks. The different names given to these main facilities with some variation in its terms are revolving underwriting facility(RUF), short-term note issuance facility (SNIP), transferable revolving underwriting facility (TRUF) and Note Purchase Facility (NPF). … Read the rest