Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
Find up-to-date guidance on points of law and then easily pull up sources to support your advice with Lexis PSL
Check out our straightforward definitions of common legal terms.
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Access our unrivalled global news content, business information and analytics solutions
Insurance, risk and compliance intelligence using big data, proprietary linking and advanced analytics.
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
The LexisPSL Banking & Finance team were at the LMA Syndicated Loans Conference 2018 yesterday on the theme of Building a Sustainable Future, where we showcased the Autumn 2018 edition of our magazine (available here) and heard some insightful debates on the state of the market.
The day’s opening speech noted that, in addition to the theme of the conference, the LMA’s main areas of focus were LIBOR, Brexit, KYC and operational efficiency. Here are our key takeaways from the day:
Banks and financial institutions are focusing increasingly on green/sustainable lending. Environmental and sustainability issues are moving beyond the bond markets through investment grade lending and into the leveraged space. Currently, this tends towards a top-down, C-suite approach driven by internal brand preservation rather than financial considerations. However, this is likely to change as market developments presently in nascent form ultimately bear fruit. Such developments include:
There is a recognised need for significant investment in IT and technology to harmonise industry-wide KYC and AML processes and ease transferability issues in the secondary market. A particular focus of the day was the centralisation and coordination of identifiers and data, particularly in light of the European Central Bank’s AnaCredit scheme, AnaCredit was launched in 2011 and is gaining increasing momentum as an amalgamation of and alternative for the vast array of legal entity identifiers (LEIs), financial instrument global identifiers (FIGIs), international securities identification numbers (ISINs), the US Committee on Uniform Security Identification Procedures (CUSIP) system and institutions’ own internally generated identifiers currently in use. It was agreed that such developments are essential for loans to continue as a competitive asset class but that the consequential operational changes and upgrades to legacy IT systems are headache inducing!
The session on LIBOR and benchmarks focused on the operational and documentary challenges of the transition from LIBOR to Risk Free Rates. The panel felt that lenders were so far holding back on changing current practice to reflect the decision to transfer to SONIA as they hold out for a forward looking term rate to emerge. The LMA commented that it plans to amend its facility documentation in due course but much still needs to be ironed out in terms of how the rate will operate and appropriate fallbacks – feedback has been that fallbacks based on reference bank rates or cost of funds don’t work very well in practice. The LMA plans to publish guidance on dealing with new and legacy loan transactions in the context of the transition in the near future.
Other topics discussed during the course of the day included:
Free trials are only available to individuals based in the UK
* denotes a required field
Neeta started her legal career at Allen & Overy in 2008 in the midst of the global financial crisis and the collapse of Lehmans where she gained most of her paralegal experience.
Neeta also did a short stint in litigation at the Revenue and Customs Prosecutions Office in 2006. Neeta graduated with a 2:1 honours degree from University of London, Queen Mary College and went on to obtain a distinction from the College of Law in the Legal Practice. She has been working at Lexis Nexis since April 2013.
0330 161 1234