Title

COVID-19: Update to the Covid Corporate Financing Facility
Client Memorandum

Created date

5/20/2020

Following our initial post and subsequent update on the Bank of England’s (the “Bank”) Covid Corporate Financing Facility (“CCFF”), on 19 May 2020 the Bank issued a press release announcing the publication of a consolidated market notice that incorporates revisions to the operation of the CCFF, including with respect to (i) restraint on the payment of dividends and other capital distributions by issuers; (ii) early repayment of drawings under the CCFF; and (iii) publicly disclosing access to the CCFF.