Update Borrowing Base

In Maybern, the Borrowing Base is initially configured as part of the credit facility set-up workflow. This guide details how to update your borrowing base after the credit facility has already been configured

To update your borrowing base, navigate to the Fund Family

Click Credit Facility

In the top right corner, click Borrowing base

Click Update Borrowing Base

If you would like to change the calculation for the borrowing base, select the Calculation dropdown under Configuration and select a new calculation

If you would like to add concentration limits, check the Borrowing base has concentration limits box. This will enable settings for optional % Individual concentration limits and % Aggregate concentration limits for each investor advance rate group. % Individual concentration limits apply to each investor entity in a given advance rate group, whereas % Aggregate concentration limits apply to the advance rate group as a whole after Individual concentration limits have been applied

Scroll down to Update investor advance rate groups in order to edit Advance rate group names, % Unfunded commitment available for borrowing, % Individual concentration limits, % Aggregate concentration limits, and/or Investor Entities for each advance rate group within their respective Settings box. As mentioned above, concentration limits are not always applicable

To add or remove investor entities to an advance rate group, click edit in the settings box of the desired group

In the Investor Entities chart, all entities included in the advance rate group will be marked with a check. Check or un-check investor entities you would like to assign or unassign to the advance rate group. Note that If you would like to assign removed entities to a different advance rate group, you will need to return back to the Borrowing base configuration page, scroll to the Investor Entities header for new group and click edit

Note that unassigned investors will be added to Excluded Investors unless designated as belonging to a defined bucket. To add additional groups, click +Add another advance rate group in the bottom left corner. Otherwise, click Continue to Review

Review the borrowing base summary, which breaks out the borrowing base by investor. This table is interactive – you can un-group the default groupings, expand or collapse groupings, or create new groupings

Once you have reviewed the borrowing base updates, click Update borrowing base