The mission of the Process & Technology Committee is to articulate and help implement various initiatives within the loan market. Through publishing best-practice recommendations, educating market participants and facilitating discussions, the committee intends to effect change; directly resulting in a more efficient and orderly syndicated loan market.  The directives of the committee are to: 

  1. Define. Establish and document best-practices around existing processes. Focus on areas that are proven to be bottlenecks.
  2. Educate. Demonstrate how those best practices can be implemented using current technology.
  3. Innovate. Research emerging technologies.  Document how they will impact the loan market.
  4. Facilitate. Drive consensus between vendors, buy-side, sell-side and regulators/associations to accomplish the above. 

This Committee is open to LSTA members by invitation only.

Become a Member

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.

View a list of all members.

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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.