Secondary trading and loan portfolio sales

Secondary trading and loan portfolio sales guidance:

The UK and US secondary (private) debt trading markets are very similar when transacted on the suite of documents issued by the Loan Market Association (LMA) in the UK...

Practice Note

Why might a borrower want to buy back a loan? The ability of borrowers, members of the borrower group and any related parties to buy back loans became a live issue when...

Practice Note

This Deed is made on [insert day and month] 20[insert year] Parties 1 [insert name of Assignor], a company incorporated in England and Wales with registered number...

Precedents

This Deed is made on [insert day and month] 20[insert year] Parties 1 [insert name of Transferor] of [insert address] (the Transferor); 2 [insert name of Transferee] of...

Precedents

There are times when a lender might want to get back some of the money it has lent to a borrower before the borrower is due to repay it. If the borrower is performing its...

Practice Note

This Practice Note provides an introduction to loan portfolio sales, considering in particular the types of portfolios that exist for sale and the identities and...

Practice Note

This Practice Note considers some of the key issues which can arise on a loan portfolio sale and which may be relevant to banking law practitioners involved in large...

Practice Note

This Practice Note provides an overview of the main legal documentation which may be used to conclude the disposal of a loan portfolio and suggests typical negotiating...

Practice Note

[To be printed on the headed paper of the LENDER (THE ASSIGNOR)] [insert date] To: [insert full name and address of borrower] Dear [insert name of borrower] 1 We refer to...

Precedents

Secondary debt trades in the London market are typically documented through a suite of recommended form of documents produced by the Loan Market Association (LMA). The...

Practice Note

The timeline outlined below is an indicative time-frame incorporating the various steps required through the process of a typical secondary debt trade. The process is...

Practice Note

Companies which are starting to show signs of distress often see their debt being traded on the secondary market at prices below par/face value. The extent to which the...

Practice Note

Aims of the Loan Market Association The Loan Market Association (LMA) was established in 1996 as a trade body with a key objective of improving liquidity, efficiency and...

Practice Note

The proper law doctrine provides that the discharge of a debt may only properly be determined by the governing law of the debt. As such, and subject to the modifying...

Practice Note

Assignment is a means by which a lender can transfer its interest in a loan to another lender. For an overview of the reasons why a lender might generally want to...

Practice Note

Assignment is a means by which a lender can transfer its interest in a loan to another lender. For an overview of the reasons why a lender might generally want to...

Practice Note

Novation is a means by which a lender can transfer its interest in a loan to another lender. This Practice Note looks at what is meant by novation before discussing the...

Practice Note

Sub-participation is a means by which a lender can transfer its risk in a loan to another lender. For an overview of the reasons why a lender might generally want to...

Practice Note

At present, there is no consistent approach as to how the possession of information (particularly confidential or material non-public information, being information that...

Practice Note