Leveraged Finance loan transfers

Leveraged Finance loan transfers

Interesting LMA early evening seminar yesterday hosted by Allen & Overy on ‘Trends impacting loan transfers and debt syndication in the Leveraged Finance Market’. On the panel were Filippo Crosara (Barclays),  Matt Moore (A&O), James Slessenger (Xtract) and Ash Tehrani (J.P. Morgan).

The discussion focused on the increasingly restrictive nature of the transfer provisions in leveraged finance facilities agreements.

The seminar started with setting out a typical market position in the current climate — the Parent is required to consent to assignments and transfers (subject to reasonableness and deemed consent), unless the transfer is made 1) to other Lenders, Related Funds or Affiliates, 2) to entities named on an Approved Lender List or 3) following certain material Events of Default (typically only insolvency and non-payment). The restriction and exceptions are then subject to an override that, in any event, there are to be no assignments or tran

Subscription Form

Related Articles:
Latest Articles:

Already a subscriber? Login
RELX (UK) Limited, trading as LexisNexis, and our LexisNexis Legal & Professional group companies will contact you to confirm your email address. You can manage your communication preferences via our Preference Centre. You can learn more about how we handle your personal data and your rights by reviewing our  Privacy Policy.

Access this article and thousands of others like it free by subscribing to our blog.

Read full article

Already a subscriber? Login

About the author:

Miranda is a solicitor specialising in leveraged and acquisition finance. She trained at Hogan Lovells International LLP and qualified into the international banking and finance team. During her time at Hogan Lovells she worked on a variety of domestic and cross-border transactions, acting for both borrowers and lenders. She also experienced secondments to Barclays Bank PLC and Kaupthing Bank hf.