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
Operational considerations around RFR lending
With Kam Mahil – LMA and Brian Fraser – Lloyds Bank
E-signings and virtual signings for syndicated loan transactions – Common questions arising from Covid-19
You need to log-in and register to view this webinar.
Resources
Heatmap
Click here for a copy of the heat map template and click here for the accompanying guiding principles.
Inhibitors to Liquidity in the Loan Market
This guide seeks to highlight issues that have the potential to impact liquidity in the loan market, focusing primarily on those issues prevalent in the leveraged loan 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.
Brexit and the LMA English Law Participation
This article by Justin Conway of McCarthy Denning presents a number of questions that grantors and participants should be asking themselves as they implement structural changes.
LMA Secondary Settlement Statistics
Collation of settlement statistics from major European trading banks
Trade Recap Template
The trade recap template's purpose is to prompt lenders with the required details necessary to complete a trade confirmation.
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.
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.
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.
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