the authoritative voice of the EMEA market

Documents & Guidelines

The LMA endeavours to keep its documentation under constant review to ensure that it continues to meet the aims and needs of the primary and secondary loan markets. The production of recommended documentation remains one of our most important activities.

Our documentation is produced after extensive consultation with leading loan practitioners and law firms so as to represent an agreed common view of documentation structures. Standardisation of the "boiler plate" areas of the documents allows lenders and borrowers to focus on the more important commercial aspects of individual transactions.

Documentation Conversion Notice

The LMA will be converting its entire documentation suite over the coming months to a docx version of Word. No changes are being made to the drafting of the underlying documents and each document will be uploaded as and when it has been converted and checked. The publication date of each document will not change as a result of the conversion.

If members have any queries about the conversion process, please email lma@lma.eu.com with the subject heading "Document Conversion Query".

Global Administrative Details Form Released

The LMA and LSTA have together launched a standard Administrative Details Form ("ADF") to be used in transactions globally. Whilst not all fields will be relevant to every transaction, it is hoped this template will constitute a market standard for communicating key administrative details.

LMA launches ECA Buyer Credit Facility

The LMA is pleased to announce the launch of a new recommended form of facility agreement for use in export finance buyer credit transactions supported by an export credit agency (the "ECA Buyer Credit Facility").

LMA publishes new form of leveraged intercreditor agreement for a super senior revolving facility and senior term facility structure

The LMA is pleased to announce the launch of a new recommended form of intercreditor agreement for leveraged acquisition finance transactions with a super senior revolving facility and senior term facility structure (the "Super Senior/Senior ICA").

LMA publishes revised Replacement of Screen Rate clause to provide further flexibility in light of uncertainty over the future of LIBOR

The LMA has published an updated version (the "Revised Replacement of Screen Rate Clause") of the optional "Replacement of Screen Rate" clause that has been included in the Primary Documents and the Leveraged documents since November 2014. The Revised Replacement of Screen Rate Clause was developed in order to facilitate further flexibility than the existing clause allows in light of uncertainty over the future of LIBOR and other benchmark rates.

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Spotlight on the LMA ECA Buyer Credit Facility Agreement

This video interview with Clare Dawson, Chief Executive of the LMA, and Massimo Schirò, Legal Affairs Director at SACE, considers the new LMA recommended form of ECA Buyer Credit Facility Agreement.