Annual Report & Accounts 2009 - Anglo Irish Bank

Notes to the financial statements continued
55. Related party transactions continued
160
Principal terms
Loans to Directors in a personal capacity
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
The facility was provided to part finance an investment in a fund. The facility was initially approved in May 2007, the
most recent renewal was in June 2008 and it expired in June 2009. The margin on the loan was 1% and there was no
arrangement fee. It is secured by the investment in the fund and is on a full recourse basis. This loan is currently the
subject of legal proceedings between the Bank and the customer.
The facility was provided to purchase shares in the Bank, to capitalise interest due and to provide a one year interest roll
up facility. The facility was initially approved in February 2005, the most recent renewal was in January 2009 and it had
an expiry date of December 2009. The margin on the loan was 1% and there was no arrangement fee. It was secured on
shares in the Bank and is on a full recourse basis. The facility was on interest roll up to December 2009. This loan is
currently the subject of legal proceedings between the Bank and the customer.
The loan was drawn down in January 2009 and was repaid in the same month. The margin on the loan was 1% and
there was no arrangement fee. There was no security but it was covered by an all sums due clause in the borrower’s
other facilities and was on a full recourse basis.
The facility was provided to fund a film finance investment. The facility was initially approved in April 2008 and it expired
in April 2009. The margin on the loan was 4% and there was no arrangement fee. There was no security but it was
covered by an all sums due clause in the borrower’s other facilities and is on a full recourse basis. This loan is currently
the subject of legal proceedings between the Bank and the customer.
The facility was provided to fund a film finance investment. The facility was initially approved in April 2008 and was
repaid in May 2009. The margin on the loan was 2% and there was no arrangement fee. It was secured and was on a
full recourse basis.
The loan was provided to renew an existing facility to purchase shares in the Bank, to provide for partial interest roll up
to December 2009 and to provide a bridging facility for the purchase of a residential property. It was initially approved in
October 2004, the most recent renewal was in January 2009 and it had an expiry date of December 2009. The margin
on the loan was 1% and there was no arrangement fee. It was secured on shares in the Bank and is on a full recourse
basis.
The facility was provided to partially fund the purchase of a residential property and to meet relocation costs. This GBP
facility commenced in February 2006, the most recent renewal was in October 2006 and is due to expire in December
2010. The interest rate is the HM Revenue & Customs official rate (currently 4.75%) and there was no arrangement fee.
There is no security but it is covered by an all sums due clause in the borrower’s other facility and is on a full recourse
basis.
The facility was provided to fund the purchase of a residential property. The facility was initially approved in March 2006
and the most recent renewal was in August 2007. The margin on the loan was 2% and there was a 0.5% arrangement
fee. It was secured and was on a full recourse basis. The facility was repaid in July 2009.
The facility was provided to fund a film finance investment. The facility was initially approved in May 2008 and was
repaid in July 2009. The margin on the loan was 2% and there was no arrangement fee. It was secured and was on a full
recourse basis.
The facility was provided to fund the purchase of shares in a company, to capitalise arrangement fees and to fund any
interest shortfall. The facility was initially approved in June 2008 and is due to expire in June 2011. The margin on the
loan is 2.75% and there was a 1% arrangement fee. It is secured and is on a full recourse basis. The borrower is to pay
all dividends earned on shares net of tax in part payment of interest on the facility. All surplus interest may be capitalised
up to the limit of the facility.
This is a joint facility. The facility was provided to fund a number of investments and includes amounts drawn down in
USD. The facility was initially approved in February 2005, the most recent renewal was in October 2008 and it has an
expiry date of January 2010. The margin on the loan was 1.75% and there was a 0.5% arrangement fee. It is secured
and is on a full recourse basis. Interest is rolled up with capital and interest due at maturity. There is a derivative financial
instrument connected with the account with a mark-to-market valuation in favour of the Bank of €102,465 at
31 December 2009.