The LMA, APLMA and LSTA today announced the publication of the Social Loan Principles (SLP). The SLP aim to create a high-level framework of market standards and guidelines, providing a consistent methodology for use across the social loan market, whilst allowing the loan product to retain its flexibility and preserving the integrity of the social loan market while it develops. The SLP build on and refer to the Social Bond Principles (SBP) administered by the International Capital Markets Association (ICMA), with a view to promoting consistency across financial markets.
LMA updates exposure draft RFR documentation to recommended forms and publishes single currency RFR facilities agreements
We published our exposure draft RFR documentation as recommended forms. We replaced the existing single currency SONIA and SOFR exposure drafts with two recommended form single currency RFR facilities agreements (one based on observation shift and one without shift) (the "Single Currency Compounded Rate Facilities Agreements") and updated the RFR Terms and notes outlining LIBOR transition considerations for the LMA's wider suite of documentation.
On 10 March 2021, we updated our EU Bail-In Legislation Schedule to reflect the enacting legislation that has recently come into effect in Iceland and to remove the UK bail-in regime from the Schedule. We have also updated the associated Users Guide. The EU Bail-In Legislation Schedule and the associated Users Guide can be accessed on the Documents Index of the LMA website.
Bringing together experts in their fields across the EMEA developing markets, this virtual conference will help participants understand not just the impact of the Covid-19 pandemic, but also the underlying challenges and opportunities in these markets. With the opportunity to watch panel discussions with live speaker Q&A, take part in interactive debates and to network online with LMA members around the world, register now to secure your place.
On 8 March 2021, the LMA updated its privacy notice. The LMA's privacy notice contains information about how we process and use your data and the rights that you have in respect of your personal data.
LMA publishes notes outlining LIBOR transition considerations for the LMA's wider suite of documentation
On 3 February 2021, we published a number of notes which outline, at a high level, considerations for market participants relating to the impact of LIBOR transition on LMA documentation outside of the context of English law investment grade documentation. Our previously published exposure draft rate switch agreements and multicurrency compounded rate/term rate facility agreements are based on the LMA's form of investment grade multicurrency term and revolving facilities agreement, governed by English law, and therefore necessarily address that market. We are mindful that our suite of documentation addresses other loan product areas and jurisdictions.
LMA updates exposure draft RFR documents to recommended forms and publishes new single currency RFR documents
LMA publishes updated EU Bail-In Legislation Schedule and associated Users Guide
LMA publishes notes outlining LIBOR transition considerations for LMA's wider suite of documentation
LMA publishes exposure draft documentation for multicurrency compounded rate / interbank term rate facilities
LMA publishes revised Secondary Terms and Conditions and Secondary Confidentiality Letters to go live on 1 January 2021
LMA publishes new and updated LIBOR transition documents
LMA publishes three Brexit-related notes
LMA publishes note on Revised Replacement of Screen Rate Clause and pre-cessation trigger
LMA publishes an exposure draft multicurrency rate
switch facility agreement
LMA publishes a revised version of the German law Facility Agreement for Real Estate Finance Multiproperty Investment Transactions and Supplemental Users Guide
LMA publishes a revised version of the German law Investment Grade Facilities Agreement and Supplemental Users Guide
During this current crises, a key area where we are changing the way we deliver our services is, naturally, our events and training programme.
Last year, we produced a substantial number of webinars and virtual events/panel discussions. All this content can be viewed on demand on "LMA Player", our new video and audio recording hub. We also delivered our LMA Syndicated Loans Conference virtually for the first time in September 2020.
The LMA and the ELFA joined forces with the investor community, and specialist review providers, to identify a list of provisions that are of material importance to investors' investment decisions, which are now set out in this Best Practice Guide.
E-learning course comprised of 10 modules providing an overview of the syndicated loan market.
As part of the co-operation between the LMA, LSTA, APLMA and also ICMA, each of their forms of bail-in clause refer to a common EU Bail-In Legislation Schedule, which has been prepared by the LMA, in order to describe the relevant national implementation legislation and write-down and conversion powers.
Loan Market Insight