Member states of the European Community are required to co-ordinate procedures for the award of supply and works contracts by certain entities operating in the water, energy, transport and telecommunications sectors1. In the United Kingdom2 the Utilities Contracts Regulations 20163 utilities have obligations in relation to how they award contracts for the supply of products, provision of services or the execution of works which are not specifically excluded.4. For the purposes of those regulations, a licensed operator5 within the meaning of the Coal Industry Act 19946 is a utility in relation to the exploitation of a geographical area for
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This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
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