Acquisition finance—intercreditor issues

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Precedents
[To be printed on the headed paper of the lender][insert date]To:[insert name and address of borrower]Dear [insert full name of borrower]1We refer to...
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19th May
Practice notes
European PIK loan facilitiesThis Practice Note provides information on European PIK loan facilities (PIK facilities). It discusses:•the key features...
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Produced in partnership with Susan Whitehead, Consultant at Hogan Lovells and Penny Angell, Partner at Hogan Lovells 19th May
Practice notes
Introduction to fund finance—capital call facilitiesThis Practice Note discusses:•what is meant by capital call facilities, NAV, or asset backed...
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Produced in partnership with Leon Stephenson of Reed Smith 19th May
Practice notes
Increased costsThis Practice Note considers the costs that a lender will incur when providing funding to a borrower and the steps that it will take...
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19th May
Practice notes
Perfecting securityIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into...
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19th May
Practice notes
Synthetic securitisationsWhat is a securitisation?Securitisation is a technique used to finance the ownership or sale of types of assets that would...
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19th May
Practice notes
Bilateral, syndicated and club arrangementsOne of the features used to categorise loans is the number of lenders involved. A loan involving one lender...
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19th May
Practice notes
Pre-export finance—key terms in the facility agreementPre-export finance (PXF) is an established structure used to provide finance to producers of...
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Produced in partnership with Dentons 19th May
Practice notes
Derivatives—ISDA documentation frameworkThe International Swaps and Derivatives Association, Inc. (ISDA) is an association for participants in the...
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19th May
Practice notes
The facility agentThis Practice Note covers the duties and role of the facility agent (defined in the Loan Market Association (LMA) documentation as...
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19th May
Precedents
This Deed of guarantee and indemnity is made on [insert day and month] 20[insert year]Parties1[Insert name of Guarantor], a company incorporated in...
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19th May
Practice notes
Transferring a loan by equitable assignmentAssignment is a means by which a lender can transfer its interest in a loan to another lender.For an...
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19th May
Precedents
[TO BE PRINTED ON THE HEADED PAPER OF THE LENDER][insert name and address of borrower][insert date]Dear [insert full name of borrower]We offer to...
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19th May
Practice notes
Loan Market Association (LMA)—news on documentation [Archived]This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA...
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19th May
Practice notes
Crystallisation of floating chargesThe key feature of a floating charge is that, until it crystallises, the chargor is entitled to deal with the...
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19th May
Precedents
[To be printed on the headed paper of the lender][insert date]To:[insert name and address of borrower]Dear [insert name of borrower],We are pleased to...
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19th May

Most recent Acquisition finance—intercreditor issues content

Practice notes
Acquisition finance—intercreditor agreement—parties and structuresAny transaction that involves more than one class of creditor will typically need an...
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21st Sep
Practice notes
Subordination—key parties and common usesSubordination is a way of changing the priority of claims against a debtor so that one creditor or group of...
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8th Sep
Practice notes
Intercreditor agreement—key provisionsThis Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice...
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8th Sep
Practice notes
SubordinationSubordination is a way of changing the priority of claims against a debtor so that one creditor or group of creditors (the junior...
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7th Sep
Precedents
Deed of priority: single company borrower—single senior secured lender—single junior secured lenderThis Deed is made [insert day and month] 20[insert...
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10th Aug
Precedents
Intercreditor deed—single company borrower—single secured senior lender—single secured junior lender—single unsecured subordinated lenderThis Deed is...
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10th Aug
Precedents
Subordination deed—single company borrower—single unsecured senior lender—single unsecured junior lenderThis Deed is made [insert day and month]...
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10th Aug
Practice notes
The security agent and security trust provisionsThe security agentIn a syndicated loan transaction, the security agent (sometimes also known as the...
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10th Aug
Practice notes
Priority between security interestsIn addition to ensuring its security has been validity created and perfected, a secured party will want to ensure...
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10th Aug
Practice notes
Effect of registering security at Companies House on priority of security interestsRegistration can have an important effect on the priority of...
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10th Aug
Practice notes
Priority between security interests—practical examplesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...
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10th Aug
Practice notes
A comparison of the LMA REF Intercreditor Agreements against the LMA Leveraged Intercreditor AgreementThis Practice Note compares key terms of the...
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10th Aug
Practice notes
Effect of registration at HM Land Registry or Land Charges Department on priority of security interestsSTOP PRESS—Coronavirus (COVID-19) and...
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10th Aug
Q&As
What are unitranche facilities?What is a unitranche facility?Leveraged finance transactions are traditionally funded by a mixture of equity, senior...
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31st Jul
Practice notes
Intercreditor agreements—effective releasesBackgroundThe aim of the intercreditor agreement is to try and deal with potential conflicts which will...
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30th Jul
Practice notes
Intercreditor rights comparison table—junior debt instrumentsThis table:•is a high level summary of common negotiated outcomes across a range of...
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Produced in partnership with Neil Grant 30th Jul
Practice notes
Intercreditor issues on European unitranche dealsThe European leveraged finance loans market prides itself on innovation and its ability to adapt...
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Produced by Susan Whitehead of Hogan Lovells 30th Jul
Practice notes
Senior/mezzanine creditor intercreditor issues—document amendments and payment controlsThis Practice Note discusses two types of provisions that are...
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Produced in partnership with Hogan Lovells International LLP 30th Jul
Practice notes
Loan Market Association (LMA) leveraged documentationDevelopment of the Loan Market Association (LMA) documentationThe project to develop the LMA...
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30th Jul
Practice notes
Senior/mezzanine creditor intercreditor issues—introductionLeveraged finance transactions are often funded from a number of different sources. Equity...
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Produced in partnership with Hogan Lovells International LLP 30th Jul

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