The Primary Market Committee is the largest committee of the LSTA with more than 430 members. The Committee focuses on current legal issues in the primary market and the production of standard legal agreements for the US loan market. We recommend that every member nominate one individual to be on this committee.
Membership to the Committee is open to all LSTA members.
Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.
The nine categories together with applicable Ready Dates and Commencement Dates are reflected in this “cheat sheet”, which should be memorialized on the desks of all loan market participants.
On Monday, February 24, U.S. stock indices recorded their worst decline in two years on concerns the coronavirus outbreak would continue to spread and begin to undermine global economic growth. In the loan market, bid levels indiscriminately dropped 18 basis points to begin the week, which worsened February’s price decline to 32 basis points.
On Monday, February 24, U.S. stock indices recorded their worst decline in two years on concerns the coronavirus outbreak would continue to spread and begin to undermine global economic growth. In the loan market, bid levels indiscriminately dropped 18 basis points to begin the week, which worsened February’s price decline to 32 basis points.
Recently, the LSTA submitted a so-called “me-too” comment letter in response to a proposed rule published by the SEC late last year (the “Proposals”) impacting advertising and solicitation by investment advisers.
This spreadsheet is for the week ending February 21, 2020
This week, we start off in the markets, comparing defaults (low but rising), leverage (high but edging down), and yields (low and lowering). We move to LIBOR, announcing the new SOFR Index and Averages, and reminding members of our weekly call. We shift to the courts, providing an update on our Madden vs Midland amicus. […]
Loan defaults climbed (slightly) this month and leveraged M&A structures have been more conservative in the last three months. These two facts likely are unrelated.