JPMorgan Chase & Co. has taken over as administrative agent for Huntsman Corp., a relationship that may produce $3,500 for the bank each time another dealer handles a trade involving the chemical company's $1.52 billion term loan.
JPMorgan Chase is the only agent among the top five, according to Bloomberg data, that charges a fee on every trade not done through its own desk. Huntsman replaced Deutsche Bank AG as agent on Monday.
The German bank doesn't charge fees to banks that are members of a no-fee group in which most of the largest lenders agreed not to charge one another. JPMorgan Chase did not join with the others.
Assignment fees were initially instituted to compensate the administrative agent for the cost of transferring ownership of a syndicated loan.
