Coronavirus Update

At the present time, our priority is the health and wellbeing of LMA staff, as well as our members and those of you who we work with on a daily basis. In line with government policy LMA staff are mainly working from home and events to the end of August 2021 are postponed with September 2021 onwards under review. In addition, all working party and other meetings will take place by conference call. If you have any questions in relation to our planning, please get in touch via your usual LMA contacts.

Latest News

LMA publishes Exposure Draft of Standard Terms and Conditions for secondary debt trading together with accompanying documentation to assist the secondary loan market with LIBOR transition

On 11 June 2021, we published an Exposure Draft of Standard Terms and Conditions for secondary debt trading (the 'Exposure Draft') together with an accompanying Explanatory Note and updated Trade Confirmation (Bank Debt). The Exposure Draft, Explanatory Note and updated Trade Confirmation have been produced after engagement and feedback from market participants to facilitate secondary loan market trading as the syndicated loan market transitions away from the use of LIBOR to compounded risk-free rates.

LMA publishes further RFR documentation to assist the market with LIBOR transition

On 28 May 2021, we published new Investment Grade and Developing Markets documentation based on compounded Risk-Free Rates (RFRs) from the outset, and updated the existing RFR documentation to reflect changes to the post-Brexit bail-in provisions and to take account of the EURIBOR recommendations by the euro risk free rate working group. The new documentation also reflects these changes. We also published updated versions of some of our existing investment grade 'Mandate and Syndication' documentation to reflect bail-in provisions. In addition, we published an RFR drafting guide for our wider documentation suite.

LMA, APLMA and LSTA publish Social Loan Principles

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 FinTech Virtual Conference On Demand

This virtual conference discussed the extent to which technology-driven changes are happening, what potentially could be achieved, what challenges remain, and when such changes are likely to be adopted. The aim of this conference was to bring together senior loan market professionals and technology experts with the aim of combining market, legal and technological expertise. The conference also created a unique forum for institutions active in the loan market to share ideas as to which solutions could provide the answers to some long-standing challenges.


Updates to LMA's Privacy Notice

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.

A copy of the LMA's privacy notice can be found here. Please contact us at lma@lma.eu.com should you have any queries in relation to the updates to the LMA's privacy policy.


Recent Activity

Documentation (11 June 2021)

LMA publishes Exposure Draft of Standard Terms and Conditions for secondary debt trading together with accompanying documentation to assist the secondary loan market with LIBOR transition

Documentation (4 June 2021)

LMA publishes updated and recommended form of reference rate selection agreement.

Documentation (28 May 2021)

LMA publishes further RFR documentation to assist the market with LIBOR transition

Documentation (27 May 2021)

LMA publishes updated Sustainability Linked Loan Principles and accompanying guidance.

Documentation (30 March 2021)

LMA updates exposure draft RFR documents to recommended forms and publishes new single currency RFR documents

Documentation (10 March 2021)

LMA publishes updated EU Bail-In Legislation Schedule and associated Users Guide

Documentation (3 February 2021)

LMA publishes notes outlining LIBOR transition considerations for LMA's wider suite of documentation

Documentation (28 January 2021)

LMA publishes exposure draft documentation for multicurrency compounded rate / interbank term rate facilities

Documentation (21 December 2020)

LMA publishes revised Secondary Terms and Conditions and Secondary Confidentiality Letters to go live on 1 January 2021

Documentation (23 November 2020)

LMA publishes new and updated LIBOR transition documents

Documentation (18 November 2020)

LMA publishes three Brexit-related notes

Virtual Events

During this current crises, a key area where we are changing the way we deliver our services is, naturally, our events and training programme.

Since the start of the pandemic, we have produced a substantial number of webinars and virtual events/panel discussions. All this content can be viewed on demand on "LMA Player", our video and audio recording hub. We also delivered our LMA Syndicated Loans Conference virtually for the first time last year, and this year our Developing Markets Conference and FinTech Conference.

Virtual Events/Webinars Schedule Q3 2021

LMA Syndicated Loans virtual Conference
LMA Player
LMA Syndicated Loans virtual Conference
LMA Player

Resources

Website overview video

Watch our video overview of the LMA website providing a virtual tour of the site to help you locate all the interesting and latest content.

Best Practice Guide for Term Sheet Completeness

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.

LIBOR Transition Glossary

We have published a glossary of key terms related to the transition from LIBOR to near risk-free rates ("RFRs").

Green and Sustainable Lending Glossary

Our new green and sustainable lending glossary will aid transparency of terms in this rapidly evolving area of the market.

Green Loan Principles (GLP)

The GLP have been developed by an experienced working party with a view to promoting the development and integrity of the green loan product.

Sustainability Linked Loan Principles (SLLP)

Sustainability linked loans aim to facilitate and support environmentally and socially sustainable economic activity and growth.

LMA Secondary Settlement Statistics

Collation of settlement statistics from major European trading banks

Understanding the Loan Market

E-learning course comprised of 10 modules providing an overview of the syndicated loan market.

EU Bail-in Legislation Schedule

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.