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Secondary trading resources

Secondary trading resources

In addition to our suite of standard documents for secondary loan trading, LSTA may issue market advisories, guidelines or legal memos that address certain market disruptions, credit specific issues, or general market practices occurring in the secondary market.

Recent media

LSTA’s Form of Purchase and Sale Agreement and Settling a Distressed Trade Podcast
LSTA’s Form of Purchase and Sale Agreement and Settling a Distressed Trade presented by David Hoyt and Kenneth Rothenberg of Alston & Bird LLP and Amanda Segal and Stacy Tecklin of Katten Muchin Rosenman LLP....
  • Legal & Documentation, Secondary trading resources
LSTA Form of Distressed Participation Agreement and Collateral Annex Podcast
LSTA Form of Distressed Participation Agreement and Collateral Annex podcast is presented by Justine Block of Hahn & Hessen LLP and Michael Fransella and Jennifer Mink of Morrison & Foerster LLP....
  • Legal & Documentation, Secondary trading resources
Distressed Trading: The Distressed Confirm Podcast
In this podcast, Paul B. Haskel, Partner, Richards Kibbe & Orbe LLP and Mark Pesso, Partner, Clifford Chance US LLP discuss the LSTA’s Form of Distressed Trading Confirm....
  • Legal & Documentation, Secondary trading resources
LSTA Form of Proceeds Letter Agreement Podcast
In this podcast, Nicholas Laveris, Of Counsel of Orrick, and Amy Pasacreta, Senior Associate of Orrick, discuss the LSTA’s Form of Proceeds Letter Agreement which can be used to settle a distressed trade where the borrower is a debtor in a case under Chapter 11 of the Bankruptcy Code....
  • Legal & Documentation, Secondary trading resources
KYC and the US Loan Market Podcast
In this podcast, Bridget Marsh, Executive Vice President & Deputy General Counsel, discusses the LSTA's KYC Guidelines and the different relationships that arise in both the primary and secondary loan markets and what diligence is required....
  • Legal & Documentation, Secondary trading resources, Primary market resources

Recent publications/releases

Outbound Investment Regulations: September 30, 2026
This updated Market Advisory highlights two recent developments that are expected to prompt amendments to Treasury’s outbound‑investment regulations.
  • Legal & Documentation, Secondary trading resources
Guidance Note on Reverse Solicitation for Purposes of CRD VI (Aug 4 2026)
This Guidance Note examines the "reverse solicitation" exemption under CRD VI, providing practical guidance and sample language for loan market documentation.
  • Legal & Documentation, Secondary trading resources
Model Credit Agreement Provisions for Private Corporate Credit Deals (“PCC MCAPs”) (July 21, 2026)
Please find the final form of the LSTA Model Credit Agreement Provisions for Private Corporate Credit Deals (“PCC MCAPs”), along with a blackline to the existing BSL LevFin MCAPs, on which this document is based. 
  • Legal & Documentation, Secondary trading resources
Blackline – Exhibit A – Cooperation Agreement Key Terms and Provisions (May 18 2026)
Here is blackline Exhibit A – Cooperation Agreement Key Terms and Provisions (29Apr26 vs 18May26)  ...
  • Legal & Documentation, Secondary trading resources, Primary market resources
Exhibit A – Cooperation Agreement Key Terms and Provisions (May 18 2026)
Here is final LSTA Market Advisory- Exhibit A – Cooperation Agreement Key Terms and Provisions  ...
  • Legal & Documentation, Secondary trading resources, Primary market resources
LSTA Market Advisory – Cooperation Agreements in BSL Transactions (May 18 2026)
Here is final LSTA Market Advisory regarding the use of cooperation (coop) agreements in BSL transactions, including Exhibit A....
  • Legal & Documentation, Secondary trading resources, Primary market resources

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