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GLOSSARY

Permitted investments definition

Published by a LexisNexis Pensions expert

What does Permitted investments mean?

Types of investments that trustees are allowed to make under a scheme's rules. This term also refers to the investments stipulated by HMRC in connection with SSASs and registered pension schemes.

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Term Loan B facilities

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 financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors. This Practice Note explores the structure of a typical TLB facility and how it differs from that of traditional leveraged loans in Europe before looking at its key features. This Practice Note assumes some knowledge of leveraged finance. For introductory information, see: Introductory guide to acquisition finance. For an explanation of common terms, see Practice Note: Glossary of acquisition finance terms and jargon. What is a Term Loan B? The term 'Term Loan B' or 'TLB' (short for Term Loan Bullet) is used in the lending market to refer to a tranche of senior secured credit facilities made available to a borrower that is designed to be syndicated in the institutional loan market. These are typically floating-rate term facilities...

European Long-Term Investment Funds Regulation (the ELTIF Regulation)

European Long-Term Investment Funds Regulation (the ELTIF Regulation) This Practice Note analyses the European Long-Term Investment Fund (ELTIF) Regulation (EU) 2015/760, including legislative background, scope, authorisation, permitted investments, disclosures and marketing of ELTIFs. The ELTIF Regulation is a specialist alternative investment fund (AIF) regime available to EU alternative investment fund managers (AIFMs) authorised under the Alternative Investment Fund Managers Directive (2011/61/EU) (AIFMD). Legislative background to ELTIF ELTIF In June 2013, the Commission proposed the creation of a new investment fund vehicle, namely the ELTIF, designed to make longer term investment easier both for managers and investors. The ELTIF Regulation (Regulation (EU) 2015/760) was adopted by the Council of the European Union on 29 April 2015 and became applicable in Member States on 9 December 2015. On 23 March 2018, Commission Delegated Regulation (EU) 2018/480 (the ELTIF Delegated Regulation), supplementing the ELTIF Regulation with regard to regulatory technical standards (RTS) on financial derivative instruments solely serving hedging purposes, sufficient length of the life of the ELTIFs, assessment...

Discover our 3 Practice Notes on Permitted investments