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BoE risks ‘moral hazard’ over high-carbon bonds, say MPs

The following Banking & Finance news provides comprehensive and up to date legal information on BoE risks ‘moral hazard’ over high-carbon bonds, say MPs

What does IP completion day mean for the status of EU law in the UK?

The following Banking & Finance news provides comprehensive and up to date legal information on What does IP completion day mean for the status of EU law in the UK?

Impact of failure to give notice to a prior floating charge holder on an out of court administration appointment by a junior floating charge holder (NMUL Realisations Ltd)

A new era of climate change reality—exploring energy regulations

The following Banking & Finance news provides comprehensive and up to date legal information on A new era of climate change reality—exploring energy regulations

Featured Banking & Finance content

Negative pledges

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

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...

Common financial covenants

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

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...

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...

9th Nov

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...

9th Nov

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...

9th Nov

COVID-19

In-house

Practice notes

Acquisition finance—ancillary facilities

On an acquisition finance transaction, the borrowing group, in addition to the debt (whether loans or bonds) required to fund the transaction, will...

9th Nov

Practice notes

Crystallisation of floating charges

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...

9th Nov

Practice notes

Transferring a loan by sub-participation

Sub-participation is a means by which a lender can transfer its risk in a loan to another lender. For an overview of the reasons why a lender might...

9th Nov

Practice notes

Transferring a loan by legal assignment

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...

9th Nov

Practice notes

Bridge to bond facilities

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...

Produced in partnership with Cleary Gottlieb and Ian Chin of Morrison & Foerster 12th Jan

Practice notes

Key issues in loan transfers

There are times when a lender might want to get back some of the money it has lent to a borrower before the borrower is due to repay it.If the...

9th Nov

Practice notes

Instructing and managing local counsel

Given the cross-border nature of many banking transactions, it is common for the principal legal advisors for lenders and borrowers to need to...

9th Nov

Practice notes

Market disruption clauses in facility agreements

In summary, a market disruption clause sets out how interest is calculated for a loan if a lender’s cost of funding the loan is in excess of London...

9th Nov

Practice notes

Drafting or reviewing legal opinions in loan transactions

Legal opinions are one of the key documentary conditions precedent in loan transactions. The legal opinion is a letter which sets out opinions as to...

9th Nov

Practice notes

Borrowing base facilities—structure, key terms and risks

What is a borrowing base facility?Borrowing base facilities ('BB Facilities') are a type of trade finance. They are working capital credit facilities...

Produced in partnership with Dentons UK and Middle East LLP 12th Jan

Practice notes

Shipbuilding contracts

This Practice Note considers the main terms included in standard form shipbuilding contracts. In particular, it looks at:•standard forms of the...

9th Nov

Practice notes

Project finance—key finance documents

Documents for a typical project finance transaction can be split into three broad categories:•finance documents—the finance documents govern the debt...

9th Nov

Practice notes

Commodity repo transactions and true sale considerations

Commodity repurchases (repos) are a common alternative method of financing. There are a number of advantages for both the financier and a commercial...

Produced in partnership with Sullivan 12th Jan

Most recent Real estate finance content

Practice notes

Real estate finance—interest and interest period provisions in facility agreements

One way for banks and other financial institutions to generate revenue is by charging interest on the loans they make. In order for a bank or...

17th Jan

Practice notes

Real estate finance—financial covenants

For real estate finance lenders, understanding the financial health of the property and the borrower is critical. In a typical real estate finance...

17th Jan

Practice notes

Real estate finance transactions

This Practice Note provides an overview of a typical real estate finance (REF) transaction from the term sheet stage through to signing the financing...

17th Jan

Practice notes

Sale and leaseback of commercial real estate—the basics

What is a sale and leaseback?At its most basic level a sale and leaseback transaction involves the sale by an entity of some or all of its real...

17th Jan

Practice notes

Key deal structures in social housing finance

This Practice Note explains the key bond issue, private placement and loan facilities deal structures used in social housing finance.For more...

Produced in partnership with Neil Waller of Trowers & Hamlins 17th Jan

Practice notes

Real estate finance—investment facilities—key features

Coronavirus (COVID-19): For information on the implications of the coronavirus outbreak on real estate finance, see Practice Note: Coronavirus...

17th Jan

Practice notes

Hedging issues in real estate finance transactions

Various documentation issues need to be considered in real estate finance transactions that involve hedging to ensure that the facility documentation...

Produced in partnership with Ruth Marken and Mike Tanner of CMS 17th Jan

Practice notes

Enforcement—debentures and floating charges

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

17th Jan

Practice notes

Real estate finance—valuers and valuation provisions in facility agreements

COVID-19 (Coronavirus): Property values and the ability to carry out physical inspections of properties on behalf of lenders for valuations are likely...

17th Jan

Practice notes

Enforcement—security over land

Security over land can be taken by way of mortgage or charge with the appropriate form often depending on the significance of the land to the...

17th Jan

Practice notes

Senior loans, mezzanine loans and intercreditor arrangements in real estate finance

Intercreditor agreements are complicated and detailed arrangements between two or more sets of creditors, requiring careful consideration both in...

Produced in partnership with K&L Gates 17th Jan

Practice notes

Tacking further advances to existing security

Creating effective security is the first step in improving a creditor's position. Once that is done, it is then necessary to ensure that the security...

17th Jan

In-house

Practice notes

Real estate development finance—introductory guide to collateral warranties

Collateral warranties are some of the most important documents in real estate finance development facilities. They are provided by the key members of...

17th Jan

Practice notes

Real estate development finance—introduction to the development documentation

The development of property can be carried out by different procurement methods. For more information, see Practice Note: Real estate development...

17th Jan

Practice notes

Investing in real estate

Notwithstanding the constraints imposed by the recent credit crisis, investing in real estate has grown significantly in popularity over the last few...

17th Jan

Practice notes

Real estate finance—events of default

Many of the usual events of default for a typical syndicated loan facility will also apply (in some form) to a real estate finance transaction. For...

17th Jan

Practice notes

Real estate finance—representations and warranties in investment facilities

Many of the usual representations and warranties for a typical syndicated loan facility will also be applicable to a real estate finance transaction....

17th Jan

Practice notes

Real estate finance—bank account provisions in facility agreements

In a typical real estate finance transaction, the lenders rely heavily on the rental income generated by the property for repayment of the loan.As a...

17th Jan

Practice notes