Secondary trading and loan portfolio sales

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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
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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9th Nov
Practice notes
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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9th Nov
Practice notes
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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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
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’...
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Produced in partnership with Peter Olds of Cleary, Gottlieb, Steen & Hamilton 12th Jan
Practice notes
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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9th Nov
Practice notes
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...
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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
In many commercial finance transactions, lenders expect to be given some form of credit support to increase their confidence in being able to recover...
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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
A 10b-5 letter (also referred to as a 'disclosure letter') is a letter delivered to the underwriters by issuer's and underwriters' counsel in...
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Produced in partnership with Charles Farnsworth of Baker McKenzie and Adam Farlow of Baker McKenzie 12th Jan
Practice notes
Given the cross-border nature of many banking transactions, it is common for the principal legal advisors for lenders and borrowers to need to...
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9th Nov
Practice notes
Summary of advantages and disadvantages of the floating chargeThis Practice Note discusses the advantages and disadvantages of taking a floating as...
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9th Nov
Practice notes
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...
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9th Nov
Practice notes
Coronavirus (COVID-19): This Practice Note contains information on subjects potentially impacted by the government and regulators' responses to the...
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9th Nov

Most recent Secondary trading and loan portfolio sales content

Practice notes
Companies which are starting to show signs of distress often see their debt being traded on the secondary market at prices below par/face value. The...
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9th Apr
Practice notes
This Practice Note provides an overview of the main legal documentation which may be used to conclude the disposal of a loan portfolio and suggests...
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8th Apr
Practice notes
This Practice Note provides an introduction to loan portfolio sales, considering in particular the types of portfolios that exist for sale and the...
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8th Apr
Practice notes
The timeline outlined below is an indicative time-frame incorporating the various steps required through the process of a typical secondary debt...
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Produced in partnership with K&L Gates 8th Apr
Practice notes
This may have an impact on this Practice Note in relation to regulation of the secondary market. For further information, see Practice Note:...
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Produced in partnership with Diane Roberts of Reed Smith 8th Apr
Practice notes
The majority of secondary debt trades are conducted by telephone or by email. Following the trade call or email exchange, the parties will document...
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8th Apr
Practice notes
The UK and US secondary (private) debt trading markets are very similar when transacted on the suite of documents issued by the Loan Market...
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Produced in partnership with Diane Roberts of Reed Smith 8th Apr
Practice notes
The ability of borrowers, members of the borrower group or the sponsor (or affiliates of the sponsor) to buy back loans became a live issue when the...
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8th Apr
Q&As
SummaryThe European Commission’s proposal for a Regulation on the law applicable to the third-party effects of assignments (the Proposal) published on...
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Produced in partnership with Brian Cain 8th Apr
Practice notes
This Practice Note considers some of the key issues which can arise on a loan portfolio sale and which may be relevant to banking law practitioners...
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17th Mar
Practice notes
Secondary debt trades in the London market are typically documented through a suite of recommended form of documents produced by the Loan Market...
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17th Mar
Practice notes
Secondary debt trades in the London market are typically documented through a suite of recommended form of documents produced by the Loan Market...
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Produced in partnership with K&L Gates 26th Feb
Q&As
This Q&A considers the situation when a trader wants to include additional terms into a secondary debt trade confirmation which were not agreed on the...
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15th Feb
Q&As
A party wishing to file a claim for their debt in an administration must submit a written claim to the administrator. The document by which they seek...
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Produced in partnership with Eleanor Stephens 8th Jan

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