This Practice Note explains the features of three common types of loan facility:•overdrafts•term loans, and•revolving credit facilities (RCFs)It also...
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...
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’...
Subordination is a way of changing the priority of claims against a debtor so that one creditor or group of creditors (the junior creditor(s)) agree...
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...
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...
What is a borrowing base facility?Borrowing base facilities ('BB Facilities') are a type of trade finance. They are working capital credit facilities...
Documents for a typical project finance transaction can be split into three broad categories:•finance documents—the finance documents govern the debt...
Shares are commonly offered as security for a loan in commercial lending transactions.Practice Note: Taking security over shares explains how to take...
This Practice Note explains the Loan Market Association (LMA)’s approach to the calculation of interest in its (LIBOR based) facility documentation....
This Practice Note aims to assist practitioners with understanding the key issues to be aware of when drafting or amending a facility agreement to be...
STOP PRESS: LIBOR is being phased out and replaced with risk-free rates such as SONIA and SOFR. This Practice Note is being reviewed in light of the...
This Practice Note compares the conventions used in the loan and swap markets for sterling, US dollar, Euro and Swiss franc interest rate benchmarks...
We are constantly reviewing and adding to our content as a result of market practice and customer feedback. We do not have any content on the impact...
IntroductionPrior to September 2008, numerous small and medium-sized enterprises (SMEs) entered into interest rate hedging products (IRHPs) to support...
BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
Background to the regulated activities relating to benchmarksThe London Inter-Bank Offered Rate (LIBOR) is a global benchmark for short term interest...
This quick guide details UK legislation and retained EU legislation that has been amended and/or revoked by the Benchmarks (Amendment and Transitional...
BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
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