Loan Operations
Facilitating greater efficiency and standardisation in the loan market
Loan Operations
The operational and settlement aspects in the syndication process are far-reaching and have a significant impact on the efficiency of the transaction process. We seek to bring about increased efficiencies and standardisation.
One way in which this challenge is faced is through the European Loan Operations Committee.
Current Projects
Continually Expanding Desktop Series
We have released 3 new Desktop Series to add to the list of our existing 10 Desktop Series. We are currently working to further expand our Desktop Series to cover the different aspects of the loan market.
Trading in a Post-Brexit World
As a result of Brexit, many institutions have either moved, or will be moving, their trading desks out of the UK and into an EU member state. Some of the jurisdictions selected do not have as developed a secondary market as that in the UK. We have therefore prepared a slide deck to aid our members in carrying out any training required.
Juniors Project Group
The brand new juniors group aims to investigate how the LMA can better facilitate learning for juniors in the operations world.
Video Content
E-signings and virtual signings for syndicated loan transactions – Common questions arising from Covid-19
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Making Sense of the Secondary Markets
A sense check after a tumultuous couple of months in the European secondary loan market.
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The Role of the Facility Agent
Ruth Musgrave, Global Head Knowledge - Freshfields and Raya Brody, Vice President, Loans Agency - Citi
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Spotlight on anti-money laundering and KYC
Interview with Amelia Slocombe (LMA) which considers AML/KYC in the context of syndicated loans.
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Resources
Heatmap
Click here for a copy of the heat map template and click here for the accompanying guiding principles.
Secondary Closing Principles Matrix
This matrix aims to reduce par settlement times by outlining adoption levels of agreed standard principles and the market wide performance that the institutions collectively achieve as a result.
Improving Liquidity in the Secondary Market
This guide highlights certain issues which have the potential to impact liquidity in the secondary market.
Desktop Series
The desktop series act as operational guides for teams to refer to when carrying out their day-to-day activities.
Closing a Primary Syndication - Factors to Consider
Key challenges facing agents during the completion of a primary syndicated lending transaction and the primary syndication process.
Guide to Agency Protections
An overview of the principal protections provided in an LMA facility agreement, identifying the standard protections that an agent under a loan agreement would expect to benefit from.
LMA Secondary Settlement Statistics
Collation of settlement statistics from major European trading banks
Dealing with Requests for Amendments
Recommendations for best practice for dealing with amendments to a loan agreement, from both a pragmatic and legal standpoint.
An Agent's Guide to Handling Ancillary Facilities
An introduction to ancillary facilities and their treatment in LMA facility documentation together with guidance on common operational scenarios.
Trade Recap Template
The trade recap template's purpose is to prompt lenders with the required details necessary to complete a trade confirmation.
Understanding the Loan Market
E-learning course comprised of 10 modules providing an overview of the syndicated loan market.
Trading in a Post-Brexit World
This slide deck is to aid members in foundation training for secondary loan operations.
Save the date
Loan Operations Conference
9 June 2020
Allen & Overy, One Bishops Square, London E1 6AD
Escalation Matrix
The "Escalation Matrix" seeks to provide institutions with a direct line to a senior member in their trading counterpart, who may be able to progress, or explain, any delay to a transaction where communication between the two parties has broken down or become frustrated.
We invite all LMA members to participate in this initiative, by completing the template and sending to Nigel Houghton or Gemma Lawrence-Pardew. Please contact us if you have any questions.
Global Administrative and Agency Details Form
The LMA and LSTA have together launched a standard Administrative Details Form ("ADF") to be used in transactions globally. Whilst not all fields will be relevant to every transaction, it is hoped this template will constitute a market standard for communicating key administrative details. It is hoped that broad based adoption of the ADF will lead to efficiencies in both time and effort in compiling this detail.
Furthermore, the LMA has produced an Agency Details Form, which is to be used alongside the ADF. This form complies key agent and settlement details which should be used as a template