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.
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.
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.
This briefing by Clifford Chance looks at the key questions around the immediate aftermath of the UK's EU referendum about what the UK must do to leave the EU. The briefing considers questions such as whether the UK has yet decided to withdraw, what it must do to withdraw, whether it can change its mind, and the position of Scotland.
This document, produced by Linklaters, outlines the process behind the UK's withdrawal from the EU (following any notice of withdrawal under Article 50, Treaty on European Union) as well as who is who in the EU's negotiating team.