Since 2010, the LSTA and industry have tried to work with regulators to find a workable and practical solution for risk retention and the CLO market.
The Rider has been revised to reflect recent updates to the LSTA secondary loan market documents as well as certain other clean-up changes.
November 19, 2014, New York, NY – In observance of the Thanksgiving Day holiday, the Loan Syndications and Trading Association (LSTA) recommends treating Thursday, November 27, 2014 as a loan market holiday for purposes of calculating delayed compensation under the LSTA standard forms of trade confirmation.
At 1PM last Friday, the other shoe dropped. The Fed, OCC and FDIC released their long-awaited 2014 Shared National Credit Review, plus a bonus Leveraged Loan Supplement and Leveraged Lending FAQs. It did not make for an uplifting Friday afternoon.
If a mythical NFL quarterback had a completion rate of 85%, he would undoubtedly be unanimously inducted into the Hall of Fame on the first ballot. In real life, according to NYU professor Edward Altman, 85% of companies that reorganize under Chapter 11 do not subsequently re-file for bankruptcy protection.