|Name of Document||Formats||Date Revised||Markup|
|Name of DocumentLMA Destination Table EPP||FormatsPDF||Date Revised18/11/2020||MarkupPDF|
|Name of DocumentLMA Brexit documentary implications – Consolidated and Updated Note||FormatsPDF||Date Revised19/11/2020||MarkupPDF|
|Name of DocumentEU legislative references in LMA English law facility documentation||FormatsPDF||Date Revised18/11/2020||MarkupPDF|
|Name of DocumentLMA Recommended Form of Designated Entity Clause and User Guide||FormatsWord||Date Revised28/02/2020||MarkupPDF|
|Name of DocumentSupplemental guidance note on the implications of Brexit for jurisdiction provisions in LMA facility documentation||FormatsPDF||Date Revised10/04/2019||MarkupPDF|
|Name of DocumentLMA supplementary note on documentary implications of Brexit for LMA facility documentation||FormatsPDF||Date Revised12/09/2018||MarkupPDF|
|Name of DocumentLMA note on documentary implications of Brexit for LMA facility documentation||FormatsPDF||Date Revised06/09/2016||MarkupPDF|
LMA documentation is produced after extensive consultation with leading loan practitioners and law firms so as to represent an agreed common view of documentation structures
Documents & Guidelines
We endeavour to keep our documentation under constant review to ensure that it continues to meet the aims and needs of the primary and secondary loan markets.
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.
We are widely regarded as the body that establishes guidelines for the EMEA syndicated loan market. These are, by their nature, wide-ranging and relate to both primary and secondary markets.
The LMA publishes revised Secondary Terms and Conditions and Secondary Confidentiality Letters (21 December 2020)
We have published revised Terms and Conditions incorporating a bail-in clause (which is based on the LMA recommended form of bail-in clause). Additionally, we have published revised forms of Secondary Confidentiality Letters which also now include a bail-in clause. These will apply to all trades entered into on or after 1st January 2021.
We published a Revised exposure draft rate switch facility agreement (lookback without observation shift); new exposure draft rate switch facility agreement (lookback with observation shift); revised commentary relating to rate switch facility agreements; term sheet for rate switch facility agreements; and RFR terms for use with supplement to revised replacement of screen rate language.
The LMA publishes Consolidated and Updated Note on Brexit documentary implications and two EU legislative references destination tables (18 November 2020)
We 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.
- Issues and Guidance
- LIBOR Transition
- Investment Grade
- Leveraged - Senior/Mezzanine
- Leveraged/High Yield
- Real Estate Finance
- Leveraged - Super Senior/Senior
- Private Placement
- Commodity Finance
- Export Finance
- Developing Markets
- South African Law Investment Grade
- Local African Law
- French Law Investment Grade
- German Law Investment Grade
- Spanish Law Investment Grade
- Green & Sustainable Finance
- Release & Reliance Letters
- Secondary Debt Trading
- Bail-in Clause
- Show All
These Materials (which term includes, where the context permits, text, content, spreadsheets incorporating macros and electronic interfaces, and their underlying assumptions, conversions, formulae, algorithms, calculations and other mathematical and financial techniques) are made available to members of the Loan Market Association in accordance with the byelaws of the Loan Market Association (a copy of which is available here) to facilitate the documentation of transactions in the loan markets. None of the Loan Market Association, Allen & Overy or Clifford Chance accept any responsibility for any use to which these Materials may be put or for any loss, damage or liability whatsoever arising from such use. None of the Loan Market Association, Allen & Overy or Clifford Chance has reviewed the laws of any jurisdiction which may apply to either party to an agreement using these Materials and its subject matter. Members should therefore consider all the relevant legal, accounting and regulatory issues before using these Materials or entering into a transaction under them and, if appropriate, consult their professional advisers.
In relation to recommended form documents, members are responsible for ensuring that the precise form and content of the documentation for a particular transaction is appropriate. Members should therefore satisfy themselves that the documents and any modifications to them are appropriate in the circumstances and the economic intentions of the parties.
The Loan Market Association consents to the use, reproduction and transmission of these Materials by members of the Loan Market Association only for the Permitted Purpose as set out in the byelaws (a copy of which is available here). The Loan Market Association does not consent to the use, reproduction or transmission of these Materials for any other purpose, in any other manner or by any other person and expressly reserves all other rights.
For further information on members' rights and obligations in relation to these Materials, please refer to the articles of association and byelaws of the Loan Market Association (copies of which are available here) or contact the Loan Market Association at email@example.com.
We have updated our Data Protection Privacy Notice to clarify the service providers to whom the LMA can disclose personal data to (e.g. professional advisers).
A copy of the full LMA Data Protection Privacy Notice can be accessed here. This contains information about how we process and use your data and the rights that you have in respect of your personal data.
The LMA has recently become aware of unauthorised activity on an archived copy of its website, which it is in the process of investigating. We understand that names and email addresses of members have been accessed, but not passwords which were protected by encryption, or any other personal data.
As a precautionary measure, we would advise that members change their LMA password and passwords on any sites where they use the same password as for their members' LMA log-in.