Strategic Banking Corporation of Ireland

Dáil Éireann Debate, Wednesday - 13 May 2020

Wednesday, 13 May 2020

Questions (54)

Catherine Murphy

Question:

54. Deputy Catherine Murphy asked the Minister for Finance the reason no financial penalties were incurred by a company (details supplied) for early settlement of its facility when it received a six year facility of €40 million in May 2016 and cleared same in October 2018; and if he will make a statement on the matter. [4136/20]

Written answers

Minister for Finance

The SBCI does not charge penalties and its facility agreements do not provide for these. If an on-lender wished to repay all or part of a facility, it is SBCI’s practice to agree a payment date with such on-lender as well as agreeing the amount of interest, principal and break-cost funding payable on the prepayment date agreed.