Documents & Guidelines

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.

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New REF Security Documents (1 July 2020)

We have launched 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.


Note on Coronavirus Large Business Interruption Loan Scheme (CLBILS) and Intercreditor Considerations (25 June 2020)

We have published a guidance note which provides an overview of the UK"s Coronavirus Large Business Interruption Loan Scheme ("CLBILS") launched on 20 April 2020. The note outlines for consideration some potential intercreditor issues where a loan provided under the CLBILS forms part of the financing structure.

DAC6 and LMA recommended forms of facility documentation (19 June)

We have published a guidance note and optional riders relating to EU rules enacted under the Directive on Administrative Cooperation (commonly known as "DAC6"). DAC6 requires intermediaries including lenders to report to tax authorities certain information about cross-border arrangements that exhibit one or more specified characteristics referred to as "hallmarks".

Documents Index

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Confidentiality agreement for primary syndication

Name of Document FormatsDate Revised Markup
Name of DocumentLMA Confidentiality Letter for Primary Syndication for use in South AfricaFormatsWordDate Revised28/02/2020MarkupPDF

Confidentiality rider - front running

Name of Document FormatsDate Revised Markup
Name of DocumentLMA Front Running Confidentiality RiderFormatsWordDate Revised28/02/2020MarkupPDF

Confidentiality rider - information barriers and standstill

Name of Document FormatsDate Revised Markup
Name of DocumentLMA Information Barrier and Standstill Confidentiality RiderFormatsWordDate Revised28/02/2020MarkupPDF

Mandate letters

Name of Document FormatsDate Revised Markup
Name of DocumentLMA Mandate Letter - Best EffortsFormatsWordDate Revised01/03/2018MarkupPDF
Name of DocumentLMA Mandate Letter - UnderwrittenFormatsWordDate Revised01/03/2018MarkupPDF
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Guidance

Name of Document FormatsDate Revised Markup
Name of DocumentUser Guide to South African Law Facility AgreementsFormatsPDFDate Revised21/12/2018MarkupPDF

Facility Agreements

Name of Document FormatsDate Revised Markup
Name of DocumentUnsecured Single Currency Multiple Borrower Term and Revolving Facilities AgreementFormatsWordDate Revised21/12/2018MarkupPDF
Name of DocumentUnsecured Single Currency Multiple Borrower Term Facilities AgreementFormatsWordDate Revised21/12/2018MarkupPDF
Name of DocumentUnsecured Single Currency Single Borrower Term and Revolving Facilities AgreementFormatsWordDate Revised21/12/2018MarkupPDF
Name of DocumentUnsecured Single Currency Single Borrower Term Facilities AgreementFormatsWordDate Revised21/12/2018MarkupPDF
Name of DocumentSingle Currency Secured Term Facilities AgreementFormatsWordDate Revised21/12/2018MarkupPDF

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.

Corporate Insolvency and Governance Act 2020

The LMA would like to inform its members that it has reviewed the recently enacted Corporate Insolvency and Governance Act 2020 in the context of its template facility documentation and is not planning any changes at the present time. The position will however be monitored in accordance with any evolving market practice.

Documentation Automation Project

We are pleased to announce that, after a comprehensive tender process and in recognition of the growing demand from our membership, we have now entered into a memorandum of understanding alongside Allen & Overy and Avvoka, outlining our intention to develop a documentation automation platform in respect of certain LMA recommended form documents, as well as other ancillary services.