Due to the nature of PDL loans, close dates and commencement dates can change, meaning they can sometimes commence slightly earlier or later than anticipated. This is often due to the completion of legalities by the senior lender taking longer than anticipated and is no reflection on the Borrowing business. From a loan perspective, you will earn interest from the date of commencement and as specified in your Key Commercial Terms, so no interest will be lost. Any delays in commencement does not change the structure of the planned project as a whole. If there is a delay of completion of 4 weeks or more, we will write to you and let you know.
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