Development of the Loan Market Association (LMA) documentationThe project to develop the LMA investment grade documents began in 1998 as a response to...
This Practice Note covers the typical structure of facility agreements and the key terms and provisions that will be included. It examines the process...
This Practice Note explains the features of three common types of loan facility:•overdrafts•term loans, and•revolving credit facilities (RCFs)It also...
What is a 'capital call facility'?A capital call facility is a form of finance provided by a lender to a fund and typically secured against investors’...
The key feature of a floating charge is that, until it crystallises, the chargor is entitled to deal with the charged assets in the normal course of...
This Practice Note considers the costs that a lender operating in the interbank market will incur when providing funding to a borrower and the steps...
What is the Central Registry of Winding-up Petitions?The Central Registry of Winding-up Petitions (the Central Registry) is a computerised register of...
What is a 'capital call facility'?A capital call facility is a form of finance provided by a lender to a fund and typically secured against investors’...
Unitranche facilities have become one of the main financing options available to both financial sponsor-backed and non sponsor-backed borrowers in the...
This Practice Note provides information on European PIK loan facilities (PIK facilities). It discusses:•the key features of PIK facilities, including...
OverviewCovenant 'loose' and covenant 'lite' facilities provoke much debate in the leveraged finance market since they are perceived to indicate that...
What is second lien financing?Second lien financing is a form of financing that is principally secured by the same security package as senior or first...
Once the finance documents have been signed and the conditions precedent have been satisfied (or waived in writing), there are a few final tasks that...
After completion, the lawyers acting for the lender(s) will be responsible for distributing the original documentation and supplying copies of the key...
Purpose of an intercreditor agreementWhy have an intercreditor agreement?The key purpose of the intercreditor agreement is to ensure that each type of...
Coronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus (COVID-19) on execution of documents and company...
The lender's lawyers will conduct due diligence on the borrower(s), any guarantors and any third party security providers (the obligors) at the start...
Coronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus on execution of documents and company filing and...
What is a debenture?In the context of secured lending, the term 'debenture' means a form of security agreement that grants security interests over a...
A floating charge is most commonly contained in a debenture along with other forms of security such as fixed charges, assignments and legal mortgages....
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