• 29 September 2022
    LMA publishes updated German law REF facility agreements

    We are pleased to announce the publication of updated versions of our German Law Euro Term Facility Agreement for Real Estate Finance (REF) Multiproperty Investment Transactions (in both German and English). The latest updates to these documents follow changes to our primary documents to reflect the end of the Brexit transition period on 31st December 2020, as well as the removal of Reference Banks from the fallback waterfall. 

  • 26 September 2022
    Secondary trade confirmations now available on LMA.Automate platform

    We have launched today 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.  

  • 01 September 2022
    LMA publishes risk-free rate version of senior single currency term facility agreement for real estate finance multiproperty investment transactions (senior/mezzanine) with/without observation shift

    The LMA is pleased to announce the publication of an updated version of its senior single currency term facility agreement for real estate finance multiproperty investment transactions (senior/mezzanine) which envisages the use of risk-free rates from the outset. A mark-up against the previous LIBOR referencing document has also been published at the same time so that members can see the changes that have been made.

  • 10 August 2022
    ​LMA publishes a model form CRI policy document

    The LMA, with the assistance of the Lloyd's Market Association ("Lloyd's") and the International Underwriting Association ("IUA"), has published a model form of Credit Risk Insurance Policy ("CRI Policy"). The CRI Policy is drafted: for the purposes of insuring single borrower credit risk arising from a loan agreement; and with a view to the CRR requirements for unfunded credit protection.

    The CRI Policy was put together by an experienced working party, consisting of representatives from law firms, banks, brokers, insurers, Lloyd's and the IUA and was based on their first-hand experiences of undertaking such transactions.

  • 20 June 2022
    Update to REF Security Agreements

    On 20 June 2022, we published updates to our Real Estate Finance (REF) Investment Security Agreement, REF Development Security Agreement and REF Shareholder Security Agreement (the Security Agreements) following the enactment of the National Security and Investment Act 2021 (the NSIA).

    The aim of the updates to the Security Agreements is to prevent finance parties from inadvertently finding themselves liable under the NSIA by blocking the automatic transfer of voting rights from the chargor to the security agent in circumstances where such transfer would otherwise amount to a notifiable acquisition under the NSIA. The relevant updates can be found in Clause 5.4 (Voting rights) of the Security Agreements. The accompanying user guides have also been updated to provide an explanation of the changes to the Security Agreements.


  • 08 June 2022
    LMA.Automate has published an updated version of the Corporate Lending Facility Agreement and associated Term Sheet to the platform

    We are pleased to announce that, following detailed feedback received from our existing subscribers, we have today added an updated version of the corporate lending facility agreement and associated term sheet to the growing library of documents available on the LMA.Automate platform.
     

  • 28 April 2022
    LMA publishes revised versions of real estate investment property facility agreement, development property facility agreement and associated term sheets which envisage the use of RFRs from the outset

    We have published revised versions of our real estate investment property facility agreement, development property facility agreement and associated term sheets which envisage the use of RFRs from the outset. Cumulative mark-ups against the previous LIBOR referencing documents have also been published so that members may see the changes which have been made.

  • 11 April 2022
    LMA publishes security agreement and associated users guide for use in various common law African jurisdictions

    We have published a security agreement and associated users guide for use in various common law African jurisdictions (these being Kenya, Nigeria, Tanzania, Uganda and Zambia) in the hopes that this will facilitate standardisation in cross border African deals by introducing a common framework and boilerplate across different legal systems.

  • 18 February 2022
    LMA publishes revised Trade Confirmations for Secondary Trading

    The LMA is pleased to have published revised Trade Confirmations with an effective date of 18 February 2022. The revised Trade Confirmations incorporate amended wording in Other Terms of Trade tick-boxes for the exclusion of CAS and inclusion of zero floor options where Delayed Settlement Compensation applies. The revised Trade Confirmations (and amended wording for the tick-boxes) has not changed the position on these commercial issues and whether or not they apply to a particular trade must continue to be agreed by the parties at the time of trade. The Standard Terms & Conditions dated 4 January 2022 also remain unchanged.

  • 21 January 2022
    LMA publishes compounded TONA schedule, the French language version of the RFR French law document, an updated designated entity clause and updated RFR destination table

    The LMA is pleased to have published further documentation to assist the market with the transition to RFRs including a compounded TONA schedule, the French language version of the RFR French law document, an updated designated entity clause and updated RFR destination table.