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.
The LMA has updated its Standard Terms and Conditions and each of the Participation Agreements to take account of the revocation on 21 June 2018 of the ERISA fiduciary rule that was introduced in the US in June 2017. These documents are currently listed as pending, with a go live date of 29 October 2018.
LMA produces a Mezzanine mark-up of a Senior Facility Agreement for use on REF investment transactions
The LMA has produced a mezzanine mark-up of a senior facility agreement, for use on REF investment transactions which anticipate both a senior and mezzanine loan being advanced.
LMA Produces Supplementary Note on Documentary Implications of Brexit for LMA Facility Documentation
Further to the note first produced by the LMA in September 2016 on the documentary implications of Brexit for LMA facility documentation (the "2016 Brexit Note"), the LMA has produced a supplementary note to inform members of market discussions/concerns in this area (the "Supplementary Note").
The LMA has published an updated version of its "Revised Replacement of Screen Rate Clause". This update takes into account the publication of the Clause by the Sterling Risk Free Rate Working Group, along with the correction of some minor typographical errors.
The Schuldschein Documentation was put together by an experienced working party, consisting of representatives from the Verband Deutscher Treasurer (Association of German Treasurers), domestic German and international banks (including in-house lawyers) and major law firms active in the Schuldschein market.
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 firstname.lastname@example.org with the subject heading "Document Conversion Query".
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.