Tips and traps for in-house lawyers—key issues in issuing syndicated vanilla bonds
Produced in partnership with Andrea Cavone of Crédit Agricole Corporate and Investment Bank
Tips and traps for in-house lawyers—key issues in issuing syndicated vanilla bonds

The following Banking & Finance practice note produced in partnership with Andrea Cavone of Crédit Agricole Corporate and Investment Bank provides comprehensive and up to date legal information covering:

  • Tips and traps for in-house lawyers—key issues in issuing syndicated vanilla bonds
  • General
  • Are you the only counsel advising on this transaction or are external law firms involved?
  • What are the roles an external law firm will play?
  • Who will appoint the external law firm and obtain fee estimates?
  • What is the structure of the bond and does the bond trigger the requirements of the Prospectus Regulation?
  • What are the responsibilities of the mandated banks?
  • Standalone
  • Is there an appropriate precedent?
  • Timing considerations
  • More...

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for DCM lawyers?

This Practice Note sets out some tips and traps for in-house lawyers working on issuing vanilla bonds in the international capital markets. It is written for banking and finance lawyers working in banks or other financial institutions.

General

Initial points to consider:

Are you the only counsel advising on this transaction or are external law firms involved?

  1. Typically any syndicated bond issuance will result in an external law firm being involved.

  2. Are there any internal policies around when an external law firm must be appointed and who can be appointed and how costs are managed or shared? See: Selecting external law firms—a guide for in-house banking and finance lawyers and checklist: Agreeing engagement terms with external law firms—a checklist for in-house banking and finance lawyers for more information on appointing an external law firm.

What are the roles an external law firm will play?

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