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Practice notes
What are they?A bridge to bond facility is a type of acquisition financing where the buyer requires the certainty of a fully committed financing...
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Produced in partnership with Cleary Gottlieb and Ian Chin of Morrison & Foerster 12th Jan
Practice notes
Assignment is a means by which a lender can transfer its interest in a loan to another lender.For an overview of the reasons why a lender might...
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9th Nov
Practice notes
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...
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9th Nov
Practice notes
Coronavirus (COVID-19): The ICC has issued a guidance paper on the impact of COVID-19 on trade finance transactions issued subject to ICC rules. For...
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9th Nov
Practice notes
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...
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9th Nov
Practice notes
Assignments by way of security can take different forms and it is important to understand how they are created and their effect. Security over choses...
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9th Nov
Practice notes
On an acquisition finance transaction, the borrowing group, in addition to the debt (whether loans or bonds) required to fund the transaction, will...
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9th Nov
Practice notes
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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9th Nov
Practice notes
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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9th Nov
Practice notes
The vast majority of derivative transactions are documented by standard documentation developed and published by the International Swaps and...
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9th Nov
Practice notes
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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9th Nov
Practice notes
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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Produced in partnership with Osborne Clarke 12th Jan
Precedents
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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9th Nov
Practice notes
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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9th Nov
Practice notes
This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged...
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Produced in partnership with Carlo de Vito Piscicelli of Cleary Gottlieb Steen & Hamilton 12th Jan
Practice notes
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge...
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9th Nov

Most recent Q&As content

Q&As
Bank Recovery and Resolution DirectiveUnder Article 55 of the Bank Recovery and Resolution Directive (BRRD) (2014/59/EU) all in scope entities (such...
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8th Apr
Q&As
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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8th Apr
Q&As
Why is the restriction on asset disposals needed and what clauses should the bank consider in these circumstances?In a secured financing, the bank...
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8th Apr
Q&As
What is an ISDA protocol?The International Swaps and Derivatives Association Inc. (ISDA) publish protocols from time to time. Protocols are a means of...
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8th Apr
Q&As
The facilities agreement will often contain undertakings from the obligors that may provide sufficient protection against a potential competing debt...
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8th Apr
Q&As
What are the key features of the Coronavirus Business Interruption Loan Scheme?The government has announced a number of measures to assist businesses...
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8th Apr
Q&As
From a lender's perspective, it is important to draft a guarantee which is limited by amount as a guarantee of all of the loan, with a cap on...
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8th Apr
Q&As
The key characteristic of a fixed charge is that the security holder exercises a certain level of control over the charged asset preventing the...
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8th Apr
Q&As
Why might a borrower want to exclude part of its assets from the security package?In some secured financing transactions the borrower (or other...
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8th Apr
Q&As
The key issues to examine when considering whether a guarantee could be set aside as an antecedent transaction are:•transactions at an undervalue,...
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8th Apr
Q&As
A process agent is a person or entity that is appointed to receive, accept and acknowledge service of process on behalf of another party.A party to an...
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8th Apr
Q&As
What is a securitisation?A securitisation is a financing technique used to finance the ownership or sale of types of assets that would otherwise be...
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8th Apr
Q&As
What is a negative pledge?A negative pledge is a contractual undertaking which prohibits or restricts the party granting the undertaking from creating...
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8th Apr
Q&As
What is a bill of sale?A bill of sale is a document that transfers ownership of goods from one person (‘X’) to another (‘Y’) as security for a loan...
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Produced in partnership with Anna Medvinskaia of Gough Square Chambers 8th Apr
Q&As
Crystallisation of a floating chargeThe nature of a floating charge is that it permits the debtor to make successive disposals (usually only in the...
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Produced in partnership with Peter Susman of Henderson Chambers 8th Apr
Q&As
Does a mortgagee have the right to redeem a prior ranking mortgage?This is a fairly complicated area but in short there will be situations in which a...
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8th Apr

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