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Fitch Ratings article: European leveraged credit may suffer if US-style guidelines are introduced

In this article Edward Eyerman, Managing Director, and Paul-Antoine Conti, Director, from the European Leveraged Finance team at Fitch Ratings seek to explain the potential impact of US-style leveraged lending guidelines being introduced in Europe, following the ECBs announcement it will publish an exposure draft outlining its proposals before the end of the year.

Loan Market Insight

European Loans Monthly (July 2016)
Read Dealogic's statshot

55% Drop in EMEA Volume Pushes Global IG Loans to Three Year Low (April 2016)
Read Dealogic's statshot

European Leveraged Finance at a glance (February 2016)
Dealogic's review of 2015

Thomson Reuters LPC's Global Loan Market Data & Analytics (July 2016)
Thomson Reuter's LPC Report

CreditMatters EMEA (July 2016)
Standard & Poor's Ratings Services Report

Capital Markets View TV: European Debt Markets Shrugs Off Brexit Uncertainty (August 2016)
Standard & Poor's Ratings Services Report

CreditMatters TV interview: Overview of Corporate Recovery Rating Request for Comment (July 2016)
Standard & Poor's Ratings Services Report

EMEA Infrastructure Finance Outlook Monthly Newsletter (August 2016)
Standard & Poor's Ratings Services Report

LMA note on documentary implications of Brexit for LMA facility documentation

While the UK referendum vote to leave the EU will have an impact on the future financial landscape in the UK and Europe, in the vast majority of cases it does not bring about any need for immediate legal or contractual change. The LMA is closely following developments and will, in due course, address any documentary changes. In the meantime, however, we have produced a note addressing a number of Brexit-related considerations for LMA facility documentation.


IFRS 16: The impact of new lease accounting standards on loan agreements

Video interview with Toby Mann, Senior PSL at Clifford Chance LLP, on the impact of IFRS 16 on loan agreements. The interview includes commentary on the recent changes made to the LMA template facility agreements in respect of IFRS 16.

LMA makes revisions to its leveraged acquisition finance documentation and launches new security agreement for REF, as well as more general updates to its suite of Facility Agreements

The LMA is pleased to announce the launch of: revised forms of term sheet, senior facilities agreement, intercreditor agreement and hedging letter for leveraged acquisition finance transactions; and a new security agreement intended for use on real estate finance transactions (the "REF Security Document"), as well as consequential changes to the LMA REF facility agreements and term sheets.


LMA launches e-learning programme

We are pleased to launch an e-learning platform to complement our existing range of training. It is particularly targeted at market participants who may be unable to access our training days, but is equally suited to all professionals in the market.

The inaugural course, entitled "Understanding the Loan Market", aims to up-skill participants to an expected baseline understanding of syndicated loans. Further information can be found by clicking the arrow.


LMA November 2016 Monthly Update

This update includes: an article by Fitch Ratings detailing the impact of the ECB proposal to implement US-style leveraged lending guidelines, LMA members survey: outlook for 2017, the latest legal & regulatory news, documentation updates and upcoming LMA events.