Our final UK event of 2022 was our Early Evening Seminar in London on 1 December 2022. It comprised a panel discussion on the EMEA syndicated loan market, reviewing the year about to pass, and exploring what lies ahead for 2023. It covered: Market outlook, structure and volumes; Key challenges and opportunities; Loan market after COVID-19; What is the new normal?; and Investor appetite. The event was recorded and is now available on LMAPlayer to watch on demand.
LMA reaches 800+ Members
We are delighted to announce that over 800 organisations are now members of the LMA. What an amazing achievement and how fitting to reach this number as we celebrate 25 years of the LMA. Thank you to all our members around the world who continue to support and work with us. We now have members in over 65 countries.
Updates to the LMA Loan Servicing Heatmap
On 26 January 2023, the LMA released its updated Loan Servicing Heatmap to account for changes requested by the LMA's European Loan Operations and Agency Committees.
The new Heatmap and Guidance Document include:-
- The inclusion of a timetabled period for the creation of deal sites in the Heatmap and principal guidance document;
- Updates to the timetable period for executing Billing/Invoicing and Late-payment under the Heatmap and Fee Guidelines; and
- Removal of trading standards in relation to loan trading (to be covered in separate update to the Secondary Heatmap).
LMA updates its privacy notice
On the 19 January 2023, the LMA updated its privacy notice on account of the fact that Cvent’s CrowdCompass app, which was previously used by the LMA for its events, has been superseded by the Cvent Events app. The Cvent Events app will now replace CrowdCompass as the events app for LMA events.
Click here to access the updated privacy notice.
We have published a guidance note on the Register of Overseas Entities (ROE) regime. The ROE regime was established by the Economic Crime (Transparency and Enforcement) Act 2022 and came into force in two phases: on 1 August 2022 and 5 September 2022.
The guidance note covers a range of key issues to the ROE regime and its impacts in the real estate finance (REF) context, including drafting for a new condition precedent to be included in LMA REF facility agreements that document deals to which the ROE regime applies.
We have updated our Intercreditor Agreement for Leveraged Acquisition Finance Transactions (Senior/Mezzanine) (Compounded Rate/Term Rate) to fix a number of cross-references within the document. We have also produced a mark-up of this document against the LIBOR-referencing Intercreditor Agreement for Leveraged Acquisition Finance Transactions.
LMA.Automate Limited, a wholly owned subsidiary of the Loan Market Association, has today launched automated LMA recommended form secondary trade confirmations on the LMA.Automate platform to support the secondary loan market. Subscribers will now be able to generate secondary trade confirmations from an automated template incorporating all versions and options available in the latest static versions of the LMA recommended forms. Secondary loan market participants should also note that the LMA recommended form confidentiality undertakings have already been automated and are available on the platform.
LMA releases a guidance note on the Register of Overseas Entities regime.
LMA updated its Intercreditor Agreement for Leveraged Acquisition Finance Transactions (Senior/Mezzanine) (Compounded Rate/Term Rate) to fix a number of cross-references within the document.
LMA publishes new and updated exposure draft term SOFR documentation for investment grade and developing markets, alongside an updated commentary.
LMA responds to FCA consultation on potentially permitting the Long-Term Asset Fund to be marketed to retail investors.
LMA publishes updated versions of its German Law Euro Term Facility Agreement for Real Estate Finance (REF) Multiproperty Investment Transactions (in both German and English).
On Demand Events
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.