Alerts Archive

  • 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.

  • 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.

  • 22 December 2021
    LMA publishes RFR Destination Table and RFR versions of its German, Spanish and French law documentation

    The LMA has published its RFR Destination Table, which is intended to assist members in identifying the LMA RFR-referencing document which is most directly comparable to any given LMA LIBOR-referencing document. Where there is no direct equivalent, the table sets out the RFR-referencing document(s) which is/are most closely related and may be most helpful. The LMA has also published versions of the existing suite of German, Spanish and French law investment grade documentation based on compounded RFRs from the outset in place of LIBOR along with accompanying updated user guides.

  • 15 December 2021
    LMA publishes leveraged RFR suite of documentation and updated compounded rate facilities commentary to assist the market with LIBOR transition

    The LMA has published versions of the existing suite of leveraged documentation, including facility and intercreditor agreements, based on compounded RFRs from the outset. Each facility agreement provides the option for users to select observation shift or not (rather than two versions being produced of each agreement). The commentary to the LMA compounded rate facilities agreements has also been updated.

  • 27 October 2021
    LMA publishes term SOFR exposure draft and commentary for use in developing markets

    The LMA is pleased to have published an exposure draft single currency term and revolving facilities agreement incorporating term SOFR for use in developing markets jurisdictions alongside a commentary.

  • 03 August 2021
    LMA publishes practical guidance for the documentary amendment process when transitioning legacy LIBOR facilities

    The LMA is pleased to have published a note providing practical guidance for the documentary amendment process for parties transitioning legacy LIBOR syndicated loan facilities to compounded risk-free reference rates (RFRs).

  • 28 July 2021
    Revised version of Single Currency Term Facility Agreement for Real Estate Finance Multiproperty Investment Transactions with/without Observation Shift

    Following publication on 19 July 2021, the LMA has today published a revised version of its Single Currency Term Facility Agreement for Real Estate Finance Multiproperty Investment Transactions with/without Observation Shift (the REF RFR Facility Agreement).

  • 19 July 2021
    LMA publishes further RFR documentation to assist the market with LIBOR transition

    The LMA is pleased to have published a real estate finance facility agreement for investment property transactions to facilitate the syndicated loan market in transitioning away from the use of LIBOR to compounded risk-free rates ("RFRs").

  • 22 June 2021
    LMA Publishes Exposure Draft Trade Confirmations

    The LMA is pleased to have published Exposure Drafts of LMA Trade Confirmation (Claims) and LMA Trade Confirmation (Risk Participation).