Regulatory Alerts2012-03-21
Banking Circular No 12 of 2011 - Amendments to Foreign Exchange Exposure Limits
Here is a summary of the information provided in the bank loan documents you've shared: **Loan Application Details (MT2g IETTER Of Intent):** - The applicant, Company A Ltd., intends to apply for a loan of KES 10 million. - The purpose of the loan is to finance the construction of a new office building with an estimated cost of KES 50 million. - The loan tenure is 20 years, with a grace period of 2 years before the start of repayment. - The interest rate for the loan is not mentioned explicitly but has been discussed privately between both parties. **Loi Amendment Details:** - The applicant intends to remove the office construction project and use the loan amount differently. However, this amendment is subject to the agreement of the bank. **Loi Cancellation Details (MT299TEST17):** - The applicant has requested a cancellation of the previous loan application. This letter also requests the bank to maintain confidentiality regarding this transaction. In addition, the bank branches mentioned in the provided documents are: 1. Nairobi - Code: 001 2. Mombasa - Code: 002 3. Kisumu - Code: 003 4. Eldoret - Code: 004 5. Nyeri - Code: 005 6. Nakuru - Code: 006 7. Meru - Code: 007