The LMA is pleased to announce the publication of several documents to further assist market participants when including active transition mechanisms in their loan documentation for LIBOR transition.

The LMA has published a note entitled "Documentary implications of the end of the Brexit transition period for LMA facility Documentation" ("Brexit Note") which consolidates and updates the earlier Brexit notes published in September 2016 and April 2019, as well as two EU legislative references destination tables.

This note is intended to highlight to market participants points to consider relating to inclusion, in the LMA's Revised Replacement of Screen Rate Clause, of a specific pre-cessation trigger relating to a benchmark rate no longer being representative.

The LMA is pleased to announce the publication of an exposure draft multicurrency term and revolving facilities agreement incorporating rate switch provisions ("Multicurrency Rate Switch Facility Agreement"). This exposure draft is based on lookback without observation shift.

This note discusses the April and July 2020 documentary recommendations and contains a supplement to the LMA's Revised Replacement of Screen Rate Clause designed to facilitate one means of potential satisfaction of the recommendations.

The LMA is pleased to announce the launch of two new security agreements intended for use on real estate finance transactions (the "New REF Security Documents"), as well as consequential changes to the LMA REF facility agreements.

The LMA has published a guidance note and optional riders relating to EU rules enacted under the Directive on Administrative Cooperation (commonly known as "DAC6").

An updated version of the Senior/Mezzanine Facility Agreement Drafting Guide for Real Estate Finance Transactions dated 20 March 2020 has been uploaded to include a full mark-up at Section 6 (Mezzanine Drafting).

Global loan market associations launch new guidance documents to support the Green Loan Principles and the Sustainability Linked Loan Principles.

Further to the publication of revised IG and REF investment facility agreements on 28 February 2020, we have today published revised versions of a number of our other recommended form facility agreements, Users Guides, RFR documentation and other associated documents.

We have published revised versions of our recommended forms of Investment Grade Facility Agreements, Users Guide, REF Investment Facility Agreements, RFR documentation and other associated documents. The main change that has been made to the facility agreements is the inclusion of the LMA recommended form of replacement of screen rate clause as part of the amendments and waivers clause.

This note is intended to highlight to market participants the outstanding requirements that need to be satisfied before the Exposure Drafts can be published as LMA recommended form documentation.

The LMA has published a Rider, "LMA Rider – Revised Definition of Delayed Period Commencement Date" which can be agreed by the parties to a secondary par loan trade transaction at the time of trade and included as an "Other Term of Trade" in the Trade Confirmation.

The LMA is pleased to announce the publication of an exposure draft reference rate selection agreement ("Reference Rate Selection Agreement") for use in relation to legacy transactions transitioning from LIBOR to alternative reference rates.

The LMA has published a note, '€STR publication and changes to EONIA', which provides guidance for market participants in respect of the publication of the euro short term rate (€STR) by the ECB and the changes made to EONIA as of 2 October 2019.

The LMA is pleased to announce the publication of exposure drafts of: (i) a compounded SONIA based sterling term and revolving facilities agreement; and (ii) a compounded SOFR based dollar term and revolving facilities agreement (the "Exposure Drafts"). SONIA and SOFR are the chosen replacement near risk-free rates ("RFRs") for LIBOR in the sterling and US dollar markets respectively.

The LMA has published a note, 'LMA Revised Replacement of Screen Rate Clause and considerations in respect of credit adjustment spreads', which provides guidance for market participants in relation to considerations to be borne in mind in respect of the application of credit adjustment spreads in the context of the move from LIBOR to near risk-free rates ("RFRs").

The LMA has made available on its website (with thanks to the LSTA) an LSTA market advisory which addresses situations where market participants are trading syndicated loans issued under a facility agreement governed by English law on a Par/Near Par Trade Confirmation published by the LSTA.

The LMA has published a note on "U.S. QFC Stay Rules and syndicated loans" which provides guidance for market participants on the new U.S. QFC Stay Rules and their application to syndicated facility documentation.

The LMA has published a note, 'EONIA – planned change in methodology and discontinuation', which provides guidance for market participants on recent developments relating to the future of EONIA.

The LMA has published a supplemental guidance note which covers the documentary implications of Brexit in relation to the jurisdiction provisions in LMA facility documentation.

The LMA publishes an updated version of "The Recommended Form of Bail-in Clause and Users Guide". The updated form of Bail-in Clause is intended to allow for the UK's departure from the EU and the revised Users Guide provides supplemental guidance on the impact of Brexit in relation to contractual recognition of bail-in requirements.

The LMA has, together with the Loan Syndications and Trading Association and the Asia Pacific Loan Market Association, launched the Sustainability Linked Loan Principles (SLLP).

A new version of the LMA's German Law Multicurrency Term and Revolving Facility Agreement has been uploaded to our website today. In paragraph (b) of the definition of "FATCA Application Date", the word "or" was missing and this typo has now been corrected.

The LMA has updated its note entitled "Guidance note: United States and European Union sanctions" which was originally published in July 2014, to reflect the increased relevance of EU blocking legislation following the reinstatement of US sanctions against Iran.

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.

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.

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 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.

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 updated its confidentiality user guide to clarify the position with regards to exclusion of liability for information supplied to designated parties under the LMA's template confidentiality agreements (the "Confidentiality Agreements").

The LMA is pleased to announce the publication of a recommended template agency details form as part of its ongoing commitment to support operational efficiency initiatives across the market.‎

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. It is hoped that broad based adoption of the ADF will lead to efficiencies in both time and effort in compiling this detail.

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 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")

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").

The LMA has, together with the APLMA, launched the Green Loan Principles (GLP) with the support of the International Capital Market Association (ICMA).

The LMA and the ACT have produced a joint guide on LIBOR benchmark reform. The Guide is intended to provide an overview of developments and key issues with respect to the proposed transition away from LIBOR benchmarks.

The LMA has published an updated version of its Confidentiality and Front Running Letter for Primary Syndication, with a number of key changes.

The LMA is pleased to announce the publication of two South African law mandate letters (best efforts and underwritten) for use in syndicated loan transactions governed by South African law.

The LMA has launched the publication of a recommended Timeline for Settlement of Primary Syndication Incorporating Delayed Settlement Compensation, intended to be part of the LMA's efforts to reduce settlement times for primary syndications.