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Legal & Documentation

Loan Market Legal & Documentation

Standardizing loan documentation is a core function of the LSTA. Our suite of primary and secondary loan market documents is consistently updated and augmented each year. Timely market advisories offer guidance and help resolve market issues.

PRIMARY MARKET

The LSTA has published standard documents, including model credit agreement provisions, and best practices. The LSTA may issue Market Advisories which address certain primary market practices. The LSTA has also published primary market guidelines and memos, including guidelines for credit agreement language relating to certain regulatory matters.more

SECONDARY TRADING

The LSTA has published a suite of standard documents for secondary loan trading. The LSTA may issue Market Advisories which address certain market disruptions, credit specific issues, or general market practices occurring in the secondary market in addition to guidelines or legal memos which provide legal background or an explanation of market practices and procedures.more

SHIFT DATES

The LSTA's shift date determinations are binding on all loan market participants. Parties to a distressed trade for which step up provisions apply are required to use the relevant shift date published by the LSTA. To submit a Shift Date Request, email [javascript protected email address] with the borrower name, the title and date of the credit agreement, the deal and/or facility CUSIP, and name of the administrative agent.more

COMMITTEES & WORKING GROUPS

The LSTA navigates and leads the loan market ahead through its committees and working groups. Comprised by LSTA members, they provide a forum for loan market participants to shape and influence the direction of the industry—by consensus and resolution.more

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