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.

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LMA publishes updated German law REF facility agreements (29 September 2022)

We have published 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. 

LMA publishes risk-free rate version of senior single currency term facility agreement for real estate finance multiproperty investment transactions (senior/mezzanine) with and without observation shift (1 September 2022)

We have published an updated version of our 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.

LMA publishes a model form CRI policy document (8 August 2022)

We, with the assistance of the Lloyd's Market Association ("Lloyd's") and the International Underwriting Association ("IUA"), have 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.

Documents Index

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Name of Document FormatsDate Revised Markup
Name of DocumentGreen Loan PrinciplesFormatsPDFDate Revised11/02/2021MarkupPDF
Name of DocumentGuidance on Green Loan Principles FormatsPDFDate Revised11/02/2021MarkupPDF
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Name of Document FormatsDate Revised Markup
Name of DocumentSocial Loan Principles FormatsPDFDate Revised13/04/2021MarkupPDF
Name of DocumentGuidance on Social Loan PrinciplesFormatsPDFDate Revised03/03/2022MarkupPDF
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Name of Document FormatsDate Revised Markup
Name of DocumentSustainability-Linked Loan PrinciplesFormatsPDFDate Revised31/03/2022MarkupPDF
Name of DocumentGuidance on Sustainability-Linked Loan PrinciplesFormatsPDFDate Revised31/03/2022MarkupPDF
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Name of Document FormatsDate Revised Markup
Name of DocumentGuidance for Green, Social, and Sustainability-Linked Loans External ReviewsFormatsPDFDate Revised03/03/2022MarkupPDF
Name of DocumentGuidance on the application of the Sustainability-Linked Loan Principles in real estate finance and real estate development finance FormatsPDFDate Revised10/03/2022MarkupPDF
Name of DocumentESG Diligence Questionnaire - Asset Manager (Excel Version)FormatsPDFDate Revised29/09/2022MarkupPDF
Name of DocumentLMA and ELFA Best Practice Guide to Sustainability-Linked Leveraged LoansFormatsPDFDate Revised28/07/2021MarkupPDF
Name of DocumentGuidance on the application of the Green Loan Principles in the real estate finance (REF) investment lending context – Green buildingsFormatsPDFDate Revised13/11/2020MarkupPDF
Name of DocumentGuidance on the application of the Green Loan Principles in the real estate finance (REF) lending context – Retrofit projectsFormatsPDFDate Revised13/11/2020MarkupPDF
Name of DocumentSustainable Lending Glossary of TermsFormatsPDFDate Revised06/09/2021MarkupPDF
Name of DocumentESG Diligence Questionnaire - Asset ManagerFormatsWordDate Revised04/06/2021MarkupPDF

NOTE: There are documents on this page which may contain references to, or be based on, LIBOR. To the extent of such references, they are made available primarily for reference purposes only. Many LIBOR settings will cease to be published from 31 December 2021, and of those settings remaining, many regulatory authorities have warned against entering into any LIBOR-referencing contract after this date. Users should refer to the LMA RFR Destination Table for the risk-free reference rate equivalent to any given LMA facility document which contains references to LIBOR.

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 lma@lma.eu.com.

LIBOR IMPORTANT NOTICE

After 31 December 2021 and in light of the cessation of most LIBOR settings, please refer to the RFR Destination Table for the risk-free reference rate equivalent to any given LMA facility document which contains references to LIBOR.