The Advisory summarizes the key features of the two main types of LMTs that have been prevalent in our market -- the drop-down financing and the uptiering transaction – as well as some recent structures commonly referred to by market participants generically as “double dip” financings. The Advisory now includes a discussion of the 2024...
This advisory looks to highlight a recent change to the real-time gross settlement system for euros and communicate to members the drafting implications for two documents in the LSTA’s library....
This Market Advisory discusses the implications of The Foreign Investment in Real Property Tax Act (“FIRPTA”) in the secondary loan trading market. The blackline, against the document dated August 31, 2022, is attached below as well (it will open as a zip file where both files are located)....
In the light of the recent wave of bankruptcy filings of corporate borrowers in our market, the LSTA is publishing this market advisory as a basic overview of how to determine whether a credit trading on LSTA documentation should trade on a “Settled Without Accrued Interest” basis or “Trades Flat” basis following the occurrence of...
Market Advisory May 6, 2019 “Application of the U.S. QFC Stay Rules to Credit Agreements” The new U.S. “QFC Stay Rules”1 require U.S. global systemically important banking organizations (“GSIBs”) and their subsidiaries worldwide, as well as the U.S. subsidiaries, branches and agencies of foreign GSIBs, to include new language in certain of their credit agreements...
