LMA and ACT Guide - The future of LIBOR: what you need to know (second edition)
We have updated our joint guide with the ACT on LIBOR benchmark reform entitled "The future of LIBOR: What you need to know". The Guide is intended to provide an overview of developments and key issues with respect to the proposed transition away from LIBOR benchmarks to near risk-free rates ("RFRs"). We hope that this Guide provides a useful resource for members and have made it available in both pdf and powerpoint format should members wish to use the materials for presentation purposes (whether internally or to clients).
An Agent's Guide to Handling Ancillary Facilities
This guide seeks to provide an introduction to ancillary facilities and their treatment in LMA facility documentation together with guidance on common operational scenarios.
Improving Liquidity in the Secondary Market
A robust, liquid secondary loan market is an important ingredient for the health of the syndicated loan market as a whole. With this in mind, this guide is intended to assist market participants and their advisors who are involved in the origination and execution of syndicated loans in the primary market, by highlighting certain issues which have the potential to impact liquidity in the secondary market.
Guide to Secondary Loan Market Transactions
The aim of this guide is to provide an overview of the role of the secondary market in the syndicated loan market, identifying, amongst other things, participants active in the secondary loan market, the types of debt available, a typical anatomy of a trade and the different transfer mechanisms.
Guide to Agency Protections
The purpose of this guide is to provide an overview of the principal protections provided in an LMA facility agreement, and assist agents, arrangers, lenders and those agreeing loan documentation to identify the standard protections that an agent under a loan agreement would expect to benefit from.
Dealing with Requests for Amendments
During the life of a loan, changes to the parties’ positions, regulation and/or the market may cause parties to revisit the terms of the loan agreement. The purpose of this guide is to provide recommendations for best practice for dealing with amendments to the loan agreement, from both a pragmatic and legal standpoint.
Schuldscheindarlehen – LMA Leitfaden
Was sind Schuldscheindarlehen und wie funktionieren sie? Diese und andere Fragen sollen in diesem Leitfaden beantwortet werden. Er wendet sich an Personen, die mit dem Produkt Schuldscheindarlehen weniger vertraut sind, insbesondere an ausländische Darlehensnehmer und Darlehensgeber/Investoren. Der vorliegende Leitfaden enthält neben einer Darstellung der gegenwärtigen Marktlage eine Zusammenfassung der rechtlichen Rahmenbedingungen und Besonderheiten dieses Produktes,
Schuldscheindarlehen – LMA Product Guide: English Translation
What are Schuldscheindarlehen and how do they work? This LMA Product Guide seeks to address these questions and more. It is aimed at persons less familiar with Schuldscheindarlehen, in particular the international borrower and lender/investor. The Guide provides current market perspectives, outlines the legal framework and summarises legal nuances particular to the product.
Please note: the contents of this Guide were drafted in German; the English translation is provided for convenience.
Comparison of Private Placement Debt Products
The purpose of this comparison is to provide an overview of the similarities and differences between the (main) private placement products available in the European market. It is hoped that this comparison will help both credit providers and borrowers to understand the private placement market and to select the product which is most suitable for their requirements.
Insolvency in the Loan Market
European jurisdictions have witnessed a dynamic evolution of their restructuring and insolvency regimes, aimed at encouraging business rescue to enable value preservation and to save employment. The Guide (updated from the 2014 Edition) is intended to provide a summary of where the law currently stands in the diverse legal systems that operate across Europe, summarising the output from recent initiatives which have sought to amend the underlying insolvency regimes across Western Europe.
Regulation and the Loan Market
The numerous regulatory and legislative proposals which are currently before us, are often described as an "alphabet soup". This booklet (updated from the September 2012 edition) is intended to help you digest them. Spanning regulatory measures including AIFMD, Basel III, CRD IV, FATCA, MiFID and Dodd-Frank amongst others, this booklet may not increase your appetite for regulation, but it will certainly increase your understanding of the menu.
Guide to Syndicated Loans & Leveraged Finance Transactions
The aim of this paper is to provide guidance on syndicated loan transactions and leveraged finance transactions, identifying, amongst other things, the types of facilities commonly seen in the loan market, the parties to a typical loan agreement and common methods used by lenders to transfer loan participations.
Using English Law in Developing Markets
The aim of this guide is to assist those currently unfamiliar with the English law legal framework to understand the principles upon which English law is founded and to recognise the advantages that can be had in using English law governed contracts, whether from a practical, procedural or judicial perspective. The guide also provides an insight into both the mechanics of an English law facility agreement and the typical boilerplate provisions which are likely to be present within any English law contract.