Intralinks® Holdings Inc. (IL), a leading, global SaaS provider of content management and collaboration solutions, today announced its amendment vote management (AVM) capability for the loan market.
AVM enables information exchange that includes the ability to capture and provide feedback, as well as document distribution. The AVM capabilities update the core Intralinks platform, which now accepts deal-centric information, such as commitment amounts and tranche details. Intralinks will premiere the new AVM feature in New York at the LSTA Operations and Settlement Conference on April 24, 2013 and showcase the available AVM capability at the Thomson Reuters LPC Middle Market Conference on May 2, 2013.
Administrative agents have to manage corporate actions on behalf of their clients, including amendments, waivers, consents and extensions to existing credit agreements. Addressing these changes is a manual, error-prone process that can involve large amounts of time consuming administrative work. Organizing the legal documentation and frequent communications surrounding amendments to their underlying credit agreements is challenging without technology specifically designed for this process. A solution to optimize and enhance this process and reduce error and risk is critical to improving the efficiency and effectiveness of loan processing.
"Our new amendment voting capability reinforces our commitment to the debt capital markets community," said Mark Johnson, Senior Vice President of DCM Operations at Intralinks. "We're excited to provide our users with customer-focused technology in a more secure, auditable and compliant way that will help them win more business. Improving collaboration within the amendment voting process helps syndicated loan professionals multiply the value of their investments in knowledge and technology."
With Intralinks AVM capabilities, agents can efficiently and accurately manage amendment voting by eliminating the manual process that surrounds the distribution of information and the collection of votes. Administrative agents can drive timely credit decisions for both borrowers and their lenders by using workflow processes specificalcalifically designed to support a variety of amendment types. Agents can execute amendments in existing agency workspaces, which include new dashboards to help amendment teams efficiently prioritize their work. Lenders have a "self-service" ability to manage their own consent, including electronic signature page submission.
"We are very excited to be partnering with Intralinks to further support and improve straight-through-processing in the loan market," said Ken Katz, Director, Loan IQ Product Management at Misys. "This AVM technology leverages the LenderBridge connector, our jointly developed and supported integration adapter, to synchronize tranche-level information, including commitment and contact details between Intralinks exchanges and Misys Loan IQ™."
With amendment vote management, Intralinks extends existing agency functionality:
Streamline the amendment process: configure and save amendment templates
Drive timely credit decisions: monitor vote progress and statistics using real-time dashboards with task alerts and reminders
Reduce manual errors: view automatic weighted vote calculations for commitment percentage