While the UK referendum vote to leave the EU will have a major impact on the future financial landscape in the UK and Europe, in the vast majority of cases it does not bring about any immediate legal or contractual change. It is too early to speculate on the implications for the syndicated loan market of the UK's withdrawal from the EU and much will depend on the form of negotiated exit.
The LMA will be closely following developments in this regard and will work to address any issues which could impact the loan market. The LMA will continue to work closely with and on behalf of its members across EMEA and beyond on issues which create the potential for the loan market to be adversely affected.
Available to watch on demand on the LMA website is a 30 minute webinar on the impact of the UK's vote to leave the European Union. Presenting the webinar are Matthew Dunn and Simon Gleeson, Partners at Clifford Chance LLP.
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. Click here to view the note.
This briefing by Cadwalader looks at the impact of the UK vote to leave the EU on the European CLO market. The briefing concludes that there are solutions available to CLO market participants to plan for, and address, issues as they present themselves.
The LMA is pleased to announce the publication of a recommended form of designated entity clause for use in the LMA's senior facilities agreement for leveraged acquisition finance transactions (senior / mezzanine) and the LMA's recommended form of investment grade primary documentation.
The LMA has written to the UK Government and to the Financial Conduct Authority to outline the impacts on the loan market which may arise from Brexit and also suggested policy options for mitigating those impacts.The letters address issues in relation to licensing, and the ability to do cross-border business, as well as issues relating to the continuing validity and effectiveness of loans.
Following the delivery of the UK's Article 50 notice and the unexpectedly inconclusive UK election result, Clifford Chance examines what this means for the Brexit process and the implications for loan documentation and the LMA's documentary response.
Both the EU and the UK have now published short papers setting out their positions on judicial cooperation in civil and commercial matters. In this briefing, Clifford Chance provide a comparison between the two papers, with a consideration of what a potential withdrawal deal might look like and guidance as to actions parties can take to safeguard their position.