On 25 November 2021, the LMA updated its data protection privacy notice to, amongst other things, add YUDU (ebook publisher) as an additional service provider for the LMA.

To access a copy of the updated privacy notice, please click here.

Following a co-ordinated outreach exercise on behalf of our members, we, together with the ELFA, have published an updated Best Practice Guide for Term Sheet Completeness to support greater ESG transparency and combat greenwashing in the syndicated loan market. The updates follow a further investor survey in Q3 2021 alongside additional working group consultations to determine the material ESG terms to be included at term sheet stage. The checklist has been updated to reflect that input and to encourage more information flow on ESG provisions.

On 27 October, the LMA published an exposure draft single currency term and revolving facilities agreement incorporating term SOFR for use in developing markets jurisdictions ("Term SOFR Exposure Draft"), alongside a commentary. The Term SOFR Exposure Draft and the accompanying commentary are intended to facilitate awareness of the issues involved in structuring syndicated loans for developing markets jurisdictions which reference CME term SOFR and the development of an approach to these issues by market participants.

Available now on demand is the recording of the LIBOR webinar streamed live on 17 September. Presented by Kam Hessling and Keith Taylor of the LMA, it provides an update on transition since the previous webinar in June 2021. In particular, it covers the following key topics: Recent developments and latest timelines; Update on 'loan market' transition; and What loan market participants need to be doing.

LMA.Automate is a secure, cloud-based documentation automation platform powered by Avvoka software and fully hosted by Allen & Overy on a private Microsoft Azure cloud environment. It is available to existing LMA members initially for a free trial period and thereafter for a competitive annual subscription, based on number of individual users. The platform aims to offer an end-to-end solution with a focus on the automation of LMA template documents, but with the functionality to cater for the entire document lifecycle.

We are delighted to announce the publication of our best practice guidance to Sustainability Linked Leveraged Loans, produced in conjunction with the European Leveraged Finance Association. This Guide provides practical guidance as to the application of the Sustainability Linked Loan Principles (SLLP) to leveraged loans (known as Sustainability Linked Leveraged Loans), setting out what borrowers, finance parties and their respective advisors should consider when looking to integrate sustainability factors into their loan agreements.