Ellen Hefferan Headshot

Ellen Hefferan

Executive Vice President of Operations & Accounting

ehefferan@lsta.org / (212) 880-3013

Ellen Hefferan is the Executive Vice President of Operations & Accounting of the LSTA She is charged with managing key operational strategies and initiatives that will ultimately provide for a more efficient and liquid market. Ms. Hefferan supports the Operations Committee and its working groups to assess current operations and identify opportunities for such improvement and standardization. She is responsible for the implementation of CUSIPs market-wide and chairs the FpML Business Working Group and the Accounting Committee.

Ms. Hefferan previously served as president of ClearPar since the founding of the settlement platform in 2000 until March of 2006. Prior to joining ClearPar, she was Vice President and Senior Counsel at Citigroup where she provided transactional and advisory support to the loan syndications, trading and sales desks and the corporate banking origination units. Prior to her role at Citigroup, Ms. Hefferan gained additional experience negotiating and documenting complex commercial loan transactions for financial institutions as an Associate with Winston and Strawn.

After receiving a Bachelor of Science in Public Accounting and Marketing from Fordham University, Ms. Hefferan began her career as a Staff Accountant in the Audit Division of Arthur Anderson & Co. and served as an Adjunct Instructor of Financial and Management Accounting at Fordham University while attaining her Juris Doctorate from Fordham University Law School. She is a member of the New York State Bar and is a Certified Public Accountant.

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LSTA Newsletter – February 14, 2020

This week, we start off talking about how “loans as securities” might morph into “loans as direct loans”. On a related(ish) note, we also discuss direct lending trends. We dig into LBO trends, looking at now (2019) and then (2007). And, finally, we ponder the evolution to SOFR (and, specifically, cash spread adjustments).

LBOs: Less Leverage? More Flex!

An eternal question is “How do the current crop of leveraged loans compare to the 2007 vintage?” Today we have an answer. Covenant Review recently compared recent jumbo LBOs to their pre-crisis counterparts

Quarterly Bankruptcy Roundup

This week Rich Levin of Jenner & Block once again presented his quarterly review of recent court decisions of interest and importance to the lending and bankruptcy world.

LIBOR & SOFR: Spread Adjustments

Folks that know LIBOR is likely to end soon after December 2021 probably also know that SOFR, the likely replacement for USD loans, is a different kind of rate. While LIBOR theoretically includes an element of bank credit risk, SOFR is an overnight risk free rate.

Direct Loans: A Look Into The Future?

We’ve been closely following a case, Kirschner v. JP Morgan, which raises the issue of whether broadly syndicated term loans (“BSLs”) are subject to the securities laws.