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 all LMA staff are working from home and events to the end of September are postponed with October onwards under review for postponement. In addition, all working party and other meetings will take place by conference call.

Our team is well set up to work remotely and remains available by phone and email. We have the necessary technology set up to conduct meetings via conference call. We are confident that the quality of service you receive from us will continue but we ask for your support and patience as we work through this unprecedented period.

If you have any questions in relation to our planning, please get in touch via your usual LMA contacts.

Thank you once again for your ongoing support during this exceptionally challenging time. We aim to continue working remotely on all LMA projects and look forward to the situation stabilising in the coming weeks.

Latest News

LMA Syndicated Loans Virtual Conference

22-23 September 2020

Join us at our first ever virtual conference as we discuss the implications of Covid-19, how the loan market has responded, what more can be done and how we look to meet all the other challenges and opportunities before us.

Corporate Insolvency and Governance Act 2020

We would like to inform our members that we have reviewed the recently enacted Corporate Insolvency and Governance Act 2020 in the context of our template facility documentation and are not planning any changes at the present time. The position will however be monitored in accordance with any evolving market practice.

Launch of New Publication: Guide to Claims Trading

The guide provides (a) a description of the package of documents available for claims trades, (b) guidance on when a loan trade should be carried out as a claims trade, (c) an outline of the key provisions of the trading documents that users should be aware of when trading a claims trade and (d) a suggested timeline for a claims trade.

Release of our German Loan Market Survey

As part of the run up to the LMA's virtual panel discussions covering the German Loan Market, the LMA surveyed its membership on the opportunities and challenges facing this market.


Spotlight on Guidance to the GLP and SLLP

We have released a spotlight interview with the APLMA and LSTA on the new guidances notes on the Green Loan Principles and Sustainability Linked Loan Principles that were released alongside the updated principles. The Guidance aim to provide market practitioners with clarity on the application of the Principles and promote a harmonised approach.

Life beyond lockdown - the global consequences of the new normal

This webinar, presented by David Chmiel, Managing Director at Global Torchlight, looks to address the questions and provide some of the likely answers as to how Covid-19 will change the global economy and geopolitical and trade relations.

On 12 March 2020, British American Tobacco ("BAT") announced that it had signed a new £6 billion multicurrency revolving credit facility with a syndicate of 21 banks.

Recent Activity

Submission (14 July 2020)

LMA responds to European Commission Consultation on the Renewed Sustainable Finance Strategy

Documentation (1 July 2020)

LMA launches new REF Security Documents

Documentation (25 June 2020)

Note on Coronavirus Large Business Interruption Loan Scheme (CLBILS) and Intercreditor Considerations

Documentation (19 June 2020)

DAC6 and LMA recommended forms of facility documentation

Submission (12 June 2020)

LMA responds to US ARRC Supplemental Consultation on Spread Adjustment methodology

Documentation (27 May 2020)

Update to Senior/Mezzanine Facility Agreement Drafting Guide for Real Estate Finance Transactions

Documentation (5 May 2020)

Launch of new guidance documents to support the GLP and the SLLP

Documentation (20 March 2020)

Further Update to LMA Facility Agreements

Documentation (28 February 2020)

Update to LMA Facility Agreements

Submission (20 February 2020)

LMA responds to the Fifth Money Laundering Directive ("MLD") and Trust Registration Service Technical Consultation Document

Documentation (20 February)

LMA note on "LMA Exposure Drafts of Compounded RFR Facilities Agreement – outstanding requirements for the production of LMA recommended forms"

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 April 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 new video and audio recording hub. We are also delighted to be delivering our LMA Syndicated Loans Conference this year in a new exciting virtual format.


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

Resources

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.

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.

LMA Secondary Settlement Statistics

Collation of settlement statistics from major European trading banks