> For the complete documentation index, see [llms.txt](https://t-blocks.gitbook.io/t-blocks-documentation/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://t-blocks.gitbook.io/t-blocks-documentation/fund-governance/notes-and-loans.md).

# Notes & Loans

Notes may be issued and Loans contracted by the Fund under each SubFund, in accordance with the Securitisation Law 2004.

Ranking. Under article 64 of the Securitisation Law 2004, Notes and Loans rank pari-passu with Units within each SubFund.

Terms. The characteristics and rules applicable to each Note offering are set out in a Prospectus and/or the relevant Specific Management Regulations.

Upfront Fee. Upon issue of Notes, the Management Company may increase the issue price by an Upfront Fee, up to the percentage defined in the Specific Management Regulations.