The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:
This Practice Note discusses:
the purpose of and typical representations in a leveraged senior facilities agreement (SFA) and how these differ from those in an investment grade facility agreement
common ways for the sponsor to attempt to limit the scope of the representations
when representations are typically given
purpose of and typical information undertakings in a leveraged SFA
purpose of and typical general undertakings in a leveraged SFA
the use of 'baskets' to limit the impact of the general undertakings
purpose of and typical events of default
The information in this Practice Note assumes an SFA in a similar form to the senior multicurrency term and revolving facilities agreement for use on leveraged acquisition finance transactions available to members on the LMA website (LMA Leveraged SFA). For information on other aspects of a leveraged finance facilities agreement, see Practice Note: Acquisition finance—facilities agreement
For more information on the terms used in this Practice Note, see: Glossary of acquisition finance terms and jargon.
This Practice Note provides introductory information only. Each section links through to any relevant further information.
This Practice Note does not cover high-yield documentation. For information on high-yield, see Practice Notes: An introduction to high-yield bonds and High-yield covenants and other key terms in the European high-yield market.
For further introductory information on acquisition finance transactions, see Practice Notes: Acquisition finance—introductory guide, Sources
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.