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Term Loan B facilities

Term Loan B facilities

This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged

Sources of Shari'ah

Sources of Shari'ah

IntroductionShari'ah (also Sharia, Shariah or Shari’a) (literally, in Arabic, 'the path towards the watering place') or Islamic law is the legal

Common financial covenants

Common financial covenants

This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing

Negative pledges

Negative pledges

This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge

Practice notes

Foreign exchange (FX) derivatives

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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19th Oct
Practice notes

What is securitisation?

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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8th Oct
Practice notes

Synthetic securitisations

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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8th Oct
Practice notes

Incremental debt flexibility or accordion features

What are incremental facilities?An incremental facility is feature included in a credit agreement where, subject to meeting certain pre-agreed...
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26th Sep
Practice notes

Drafting and negotiating the facility agreement

This Practice Note covers the typical structure of facility agreements and the key terms and provisions that will be included. It examines the process...
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26th Sep
Practice notes

Overdrafts, term loans and revolving credit facilities

This Practice Note explains the features of three common types of loan facility:•overdrafts•term loans, and•revolving credit facilities (RCFs)It also...
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26th Sep
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Practice notes

Types of debt securities

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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26th Sep
Practice notes

Direct agreements in project finance transactions

What is a direct agreement?Direct agreements are very common in project finance transactions. A direct agreement is an agreement which gives the...
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26th Sep
Practice notes

Events of default

This Practice Note considers:•the purpose of events of default included in facility agreements•common events of default relating to borrowers and...
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26th Sep
tag iconCOVID-19 tag iconIn-house
Practice notes

Fixed and floating charges

There are four main types of security available under English law: •mortgage•charge•pledge, and•lienThis Practice Note explains:•the nature of a...
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26th Sep
Practice notes

ISDA definitions

The vast majority of derivative transactions are documented by standard documentation developed and published by the International Swaps and...
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26th Sep
tag iconIn-house
Precedents

Real property mortgage: single company chargor—bilateral—specific monies

This Deed is made on [insert day and month] 20[insert year]Parties1[Insert name of Chargor], a company incorporated in England and Wales with...
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26th Sep
Practice notes

Loan Market Association (LMA) leveraged documentation

Development of the Loan Market Association (LMA) documentationThe project to develop the LMA investment grade documents began in 1998 as a response to...
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26th Sep
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 documentation and related topics. It covers LMA updates from...
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26th Sep
Practice notes

Intercreditor agreement—key provisions

This Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice Note:•explains the purpose of having...
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26th Sep
Practice notes

Role of a bond trustee

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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25th Sep

Most recent ICMA developments content

Q&As

What are collective action clauses and why are they used in sovereign bond documentation?

What are collective action clauses?Collective action clauses (CACS) are provisions contained in the terms and conditions of debt securities...
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28th Sep
Q&As

Are listed debt securities transferable?

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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28th Sep
Q&As

What information should go into the summary according to the new Prospectus Regulation?

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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28th Sep
Q&As

Is there any guidance on the aggregation principle in relation to the €5m prospectus exemption?

As set out in our Practice Note: The Prospectus Directive and the debt capital markets—is a prospectus required? [Archived], the Prospectus Directive...
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28th Sep
Q&As

Securities lending and repos both involve the transfer and retransfer of securities and both can be used to cover a short position. What is the difference?

What are securities lending and repurchase (repo) transactions?A securities lending transaction involves:•outright transfer of securities by one party...
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28th Sep
Q&As

What is a tap issue in relation to a note?

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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28th Sep
Practice notes

ICMA—latest news on documentation

This Practice Note contains a summary of new and updated documents published by the International Capital Markets Association (ICMA). It is updated...
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21st Oct

Popular documents

LEXISNEXIS

What is electronic money?

BREXIT: UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further guidance on the impact of Brexit on e-money requirements, see Practice Note: Impact of Brexit: Payment services and electronic money directives—quick

LEXISNEXIS

Issue estoppel

Issue estoppel is a sub-species of the res judicata doctrine (see Practice Note: The doctrine of res judicata). In addition to the general key requirements for establishing a res judicata (see Practice Note: Key requirements to establish a res judicata), this Practice Note considers the specific

LEXISNEXIS

What is a third party debt order (TPDO)?

What is a third party debt order (TPDO)?Third party debt orders were previously known as 'garnishee' orders and operated under the regime provided for in CCR Ord 30 and RSC Ord 49 (now revoked). Although the rules in CPR 72 are new, many of the principles with which they are concerned are well

LEXISNEXIS

Forum non conveniens—scope and application

This Practice Note considers the doctrine of forum non conveniens, also referred to as the appropriate forum or the proper place for a dispute to be determined. This doctrine is of relevance when determining whether the courts of England and Wales have jurisdiction to hear a dispute and is applied