EDM: Facility Amount Available Is Negative (Doc ID 2786133.1)

Last updated on JULY 08, 2021

Applies to:

Symptoms

ISSUE:

The facility available amounts and outstanding amounts are incorrect and do not tie. There are negative values, opening balances exceed the facility amount, etc.

STEPS:

1. Create $10 million facility 1/5/21
2.Create $5m deal 1/6/21 matures 8/11/21
3.Verify Facility Amount Available is $5m and Facility Activity Link Total Outstanding and Available Amount is $5m
4.Create $3m deal 1/12/21 matures 8/11/21
5.Verify Facility Amount Available is $2m and Facility Activity Link Total Outstanding is now $8m (initial $5m + $3m) and Available Amount is $2m ($10m facility - $8m outstanding)
6.Add $2m drawdown on 1/19 and $1m paydown on 1/26 – now there is $4m outstanding on deal
7.Facility $8m outstanding + $2m drawdown = $10m - $1m paydown = $9m outstanding ($1million available)
8. Deals 742 & 743 are open
9.Deactivate Deal 743 as of today
 

Expected: $9m currently outstanding on facility - $4m outstanding on deal 743 = $5m outstanding and $5m available


FAIL
The $4m outstanding on the deal was subtracted from the initial $3m borrowing row ($3m+5m from other deal =$8m) so the $4m that the facility shows as outstanding is incorrect (should be $5m). Since the outstanding amount is incorrect, so is the $6m available (should be $5m). The drawdown and paydown rows should also remain on the facility activity as it is a historical transaction that occurred and has the correct amount outstanding and available to use when the deal is undone.

System (uses initial 1/12 available amount of $2m to add the $4m outstanding on DL743 to - $2M + $4M = $6M, shows $4M total outstanding which is incorrect because the entire deal was deactivated so the $5M on DL 742 should be what is outstanding)

Should be (uses current available amount of $1M since DL 742 & DL743 = $9M outstanding to add the $4M back to which would equal $5m ($1M + $4M = $5M) available and total outstanding would be $5M because DL742 is outstanding in its entirety

Cause

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