In Context
Once a credit facility has been configured in Maybern and the borrowing base has been defined, you may begin to process and track activity such as drawdowns, paydowns, and reallocations within the system
Step-by-Step
To process a credit facility paydown, navigate to the Fund Family
Click Credit Facility
Under the Principal Transactions dropdown in the top right, select Paydown. Within the pop-up window, select the due date and notice date for bank, and click Run Paydown. You may add any notes related to the paydown here (this is optional). Note that:
The due date of the paydown event must be after or the same as the notice date
The due date of the paydown event should be after the due date of the earliest drawdown event for the credit facility
Select the uses of funds/tranches you would like to pay down and enter the amounts in the Total column. You can pay down up to the amount of outstanding principal
The Prorata function allocates the paydown amounts pro rata amongst all the Fund Entities that are part of the Fund Family. This function applies mostly to Fund Families that have parallel funds. If the Fund Family contains a single, standalone Fund Entity, the Prorata function becomes less relevant. The allocation can be overridden by unchecking the Prorata box and entering user defined amounts for each Fund Entity
You can also view outstanding tranche dates in order to pay down oldest tranches first
After clicking Continue to Summary in the bottom right corner, you may review the paydown details. Then, you may:
Leave the event as a draft by selecting Exit in the bottom right corner. The event will automatically be saved as a draft and can be edited, completed, or deleted in the future
Delete the paydown by clicking the three dots in the top right corner of the draft event page
Click Finalize Paydown in the bottom right corner
