• 21 February 2024
    CDOR transition – Upcoming events being held by Bank of Canada / CARR

    With only 4 months to go until the cessation of CDOR, the LMA would like to invite members to two events being hosted by the Bank of Canada on the CDOR transition. 

    29 February, PwC/CARR live webinar on the CDOR transition (4:00pm GMT)
    This session will be focused on lending and hedging, as well as the transition away from the Bankers’ Acceptance market. For more information and to access the live event, please register with PwC at https://event.webcasts.com/starthere.jsp?ei=1653571&tp_key=3ea818391d. 

    12 March, CDOR will end in less than 4 months: How financial markets are adapting to CORRA (in-person event)
    The High Commission of Canada in the UK, in partnership with TMX and in collaboration with the CARR, will be hosting a panel discussion with industry experts including the CARR co-chairs, on the current transition from CDOR to CORRA. 
    Event details:  12 March 2024, 16:00 - 18:00 GMT, Canada House, Trafalgar Square, London SW1Y 5BJ
    To register, please send your RSVP to christiane.lavallee@tmx.com.  

  • 16 February 2024
    LMA publishes revised Schuldschein Loan Agreements (both German and English language)

    The LMA is pleased to announce publication of revised Schuldschein Loan Agreements in German and English language.

    As with the original versions, the revised LMA Schuldschein Loan Agreements are available in German and English language for both single borrower and single borrower with guarantor transaction structures. 

    The revisions have been considered and agreed by members of the original working party and reflect changes in law, feedback received from market participants since 2018, developments in relation to reference rate fall-back provisions and aligning the security over lenders’ rights clause to the relevant clause provided for in the German law precedent for syndicated facilities. 

  • 01 February 2024
    Strengthening EURIBOR fallbacks - LMA publishes updated Term €STR exposure draft and German law investment grade document

    We have been part of the Euro RFR Working Group and have worked with the Group on strengthening fallbacks to EURIBOR. 

    On 1 February 2024, we published an updated version of our term €STR fallback exposure draft and related commentary following market feedback. As feedback received was generally supportive of the exposure draft, there have been no major changes. However, given the lack of market practice in the use of term €STR fallbacks, the LMA has not yet moved this document to recommended form.  As a result, we need members to provide us with ongoing feedback from the provisions being used on transactions. 

    We have also updated the existing form of German law investment grade documentation to include a switch to compounded €STR upon a permanent cessation or non-representativeness of EURIBOR. 

  • 25 January 2024
    LMA publishes second edition of external review guidance

    We are delighted to announce the publication of the second edition of the ‘External Review Guidance for Green, Social and Sustainability-linked Loans’, produced in collaboration with the APLMA and LSTA.

  • 22 January 2024
    LMA updates Term SOFR commentary, as well as its developing markets and PXF facility agreements for RFRs

    The LMA is pleased to have published updated versions of its developing markets and pre-export finance (PXF) facility agreements for the transition to risk-free rates (RFRs). 

  • 19 December 2023
    LMA publishes 'An Introduction to Green Loan Frameworks'

    We are delighted to announce the publication of 'An Introduction to Green Loan Frameworks' (the Guide), an educational piece offering direction on green loan frameworks, as referenced in the February update of the Green Loan Principles (GLP). 
     

  • 07 December 2023
    LMA Publishes Duty of Care Agreement and Subordination Agreement for use on Real Estate Finance Transactions

    The LMA is pleased to release two new documents for use on real estate finance transactions as part of its ongoing work to improve efficiency in the syndicated loan market. 

  • 08 November 2023
    LMA publishes joint guide 'Getting Started in Sustainable Finance' with ACT

    We are delighted to announce the launch of our new introductory guide to sustainable finance, 'Getting Started in Sustainable Finance', produced in conjunction with the Association of Corporate Treasurers.

    Intended for use by new entrants to the sustainable lending market, this guide describes the background to the emergence of sustainable lending, the global commitments driving the sustainability agenda, the range of products on offer and further resources at hand to help. 

  • 03 November 2023
    Sustainable Finance for Social Housing

    We are delighted to have co-authored an article with Trowers & Hamlins focussing on sustainable finance for social housing.

    This article explores the potential benefits of the use of green, social, and sustainability-linked loans in the social housing sector, and focusses on some of the related challenges and opportunities for market participants.

  • 02 November 2023
    LMA publishes South African law revised replacement of screen rate language to assist with JIBAR transition

    We are pleased to have published a user guide and revised recommended form of replacement of screen rate clause for the LMA’s South African law documents (“SA revised replacement of screen rate clause”). The SA revised replacement of screen rate clause is based on the LMA’s existing 2018 revised replacement of screen rate clause (as updated) produced in the context of LIBOR transition. However, it also has regard to the work of the MPG on sample reference language for bilateral loans and reflects specifics of the South African market and JIBAR transition. In order to provide additional context, there are footnotes explaining any differences in the LMA clause and the MPG sample clause.

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