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“By establishing sound, widely accepted market practice, the LMA seeks to promote the syndicated loan as one of the key debt products available to corporate borrowers across the region.”

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The Loan Market Association (LMA) has as its key objective improving liquidity, efficiency and transparency in the primary and secondary syndicated loan markets in Europe, the Middle East and Africa.

What's New

Revised LMA Leveraged Facilities Agreement and accompanying User Guide

We have published a revised version of our Senior Facilities Agreement for Leveraged Acquisition Finance Transactions.  The changes reflect some of the statements of best practice in the LMA Transparency Guidelines.

New REF Development Facility Agreement

We have published a new recommended form of Single Currency Term Facility Agreement intended for use in real estate finance single property development transactions.  This uses the same basic structure and "boilerplate" as the LMA Recommended Forms of Primary Documents for the investment grade market or, where relevant, the leveraged finance market.

LMA FATCA Riders Updated

They have been updated to incorporate additional provisions enabling agents to obtain tax forms from lenders whenever there is a US borrower.  This change is in line with IGA requirements which impose certain obligations on agents. 

LMA May Monthly Update

May's Monthly Update includes the latest legal and regulatory news on issues impacting the loan market, update on new LMA documentation and news on current education and training events.

Revised note discussing the IBOR definitions in the LMA Primary Documents including Interpolation

We have updated our note discussing the IBOR definitions in the LMA Primary Documents in light of the Wheatley Review and associated developments.  The note  has been amended to suggest optional drafting providing for IBORs for Interest Periods for which a Screen Rate is unavailable to be determined by linear interpolation of available Screen Rates.

New Spanish law LMA Facility Agreement and User Guide

This document is based on the revised LMA English law investment grade facility agreements with amendments to reflect Spanish law and banking practice.  These areas are explored in more detail in the accompanying user guide.