ICC Bank has announced a new loan facility to enable businesses to lock into a fixed rate loan hedging against uncertainty leading up to the implementation of the EMU. The EuroFix facility will carry a fixed rate of 7.95 per cent until February 1st, 1999, when there will be an opportunity to convert to a variable rate facility.

The EuroFix will be a limited fund, available on a first come first served basis with a minimum of £80,000. The combined fixed and variable facility can have a term of up to 15 years.

At the announcement of the Eurofix above were: Mr Charles Carroll, left, general manager banking, ICC Bank plc and Mr Michael Quinn, the bank's managing director.