Promoting market efficiency has always been one of the key objectives of the Loan Market Association and one we are increasingly looking to achieve via our education initiatives.
Working in close collaboration with the LMA's Loan Operations Committee, we have created this, our first, e-learning programme. Your engagement in this programme will help create a knowledge benchmark for practitioners in the syndicated loan market - a benchmark that we believe will be key to drive efficiencies going forward.
Together we can take the market to another level and we therefore invite you to sign up to, and participate in, this course.
To enrol on the course all delegates need to subscribe on the LMA e-learning website - you are not automatically subscribed to the e-learning website by virtue of being subscribed to the LMA website. Click here to enrol and login.
Delegates should use the same email address that is used to login to the LMA website - if they are not identical then the system may prevent you, without warning, from accessing the e-learning content. Having logged in, in order to access the course "Understanding the Loan Market" delegates must click on the 'hat' icon to self-enrol.
Delegates have six months, from either 1 August 2017 or the date of registration, to complete all 10 modules of the course. Upon completion of the tenth module, a certification of completion will automatically be made available for download.
Module 1 - Overview of the Loan Product: basics of the loan market, including sources of capital, use of loans and differences between US and EMEA markets; the syndicated loan product, distinguishing between best-efforts, underwritten and club deals and; the main parties involved in a syndicated loan transaction.
Module 2 - Types of Syndicated Loan and Credit Facilities: introduces the main categorisations and features of syndicated loans and explores the mechanics of a number of specific facilities including term loans, revolving credit facilities, swingline facilities and letters of credit.
Module 3 - Introduction to LMA Documentation: LMA documents are used at various stages during the life cycle of a syndicated loan transaction and this module provides an insight into what these documents contain and how they function for all parties in a transaction. It will also explore commercial documents that are produced in-house by lenders.
Module 4 - Transaction Timetable: sets out a timetable for a typical syndicated loan transaction, explaining the interplay of the parties and documents with one another.
Module 5 - Pricing and Payments: introduces the fees, costs and expenses that contribute to the pricing of a syndicated loan, along with some of the mechanisms and systems used to make payments during the life of a loan.
Module 6 - Servicing the Loan: looks at the flow of funds, and explains the treatment of interest, during the life of a loan.
Module 7 - Protecting the Loan: looks at the series of protections typically contained within the loan agreement, which monitor the borrower's continuing ability to service its ongoing interest obligations and ultimately repay the loan in full.
Module 8 - Effecting Change: looks at the changes that may take effect during the life of a loan, including changes to the lenders and the obligors, defaulting lenders, removal of an impaired agent as well as amendments and waivers to the loan agreement itself.
Module 9 - Introduction to the Secondary Loan Market: gives an overview of the key features and drivers of the secondary loan market, the main types of transfer mechanics used and the stages involved in the life of a trade.
Module 10 - Improving Liquidity in the Secondary Loan Market: seeks to highlight issues which have the potential to impact liquidity in the secondary loan market.
Please click here to read a list of FAQs if you have any queries about the e-learning course.
If you require any further assistance, or have any additional queries, please contact:
+44 (0)20 7006 1207
+44 (0)20 7006 1372
+44 (0)20 7006 3957