Q&As

Can a limited liability partnership (LLP) issue loan notes or other types of debt securities?

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Published on LexisPSL on 24/06/2020

The following Corporate Q&A provides comprehensive and up to date legal information covering:

  • Can a limited liability partnership (LLP) issue loan notes or other types of debt securities?

A loan note is a form of debt security which can be issued by a body corporate, ie the issuer, which entitles the holder (the noteholder) to payment of principal and interest in accordance with the terms of the loan note instrument. For an example of a typical loan note instrument used in a private equity context, see Precedent: Loan note instrument—buyout—corporate investors.

A limited liability partnership (LLP) is not a partnership but a body corporate that is formed under the Limited Liability Partnerships Act 2000 (LLPA 2000). This means that an LLP has legal

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