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ARTICLE · 09 FEBRUARY 2018

Amendments To Loan Origination Qualifying Investor AIF Requirements

Arthur Cox
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On 7 February 2018, the Central Bank of Ireland issued a notice of its intention to make a change to the AIF Rulebook in respect of loan origination Qualifying Investor AIFs ("LO-QIAIFs").

IrelandFinance and Banking
Arthur Cox
Arthur Cox
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On 7 February 2018, the Central Bank of Ireland issued a notice of its intention to make a change to the AIF Rulebook in respect of loan origination Qualifying Investor AIFs ("LO-QIAIFs").

LO-QIAIFs are currently prohibited from engaging in activities other than lending and related operations. The Central Bank has previously clarified that not all of a LO-QIAIF's lending has to be structured as bilateral loans; lending can be structured as an investment in debt securities or as a participation in a syndicated lending arrangement. It has also clarified that investment in equity securities of a borrower as part of a typical loan package is also permitted. However, LO-QIAIFs have still been constrained in their investment in debt securities or other credit instruments when not part of a lending arrangement.

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