The LSTA has published a suite of standard documents for secondary loan trading. The LSTA may issue Market Advisories which address certain market disruptions, credit specific issues, or general market practices occurring in the secondary market in addition to guidelines or legal memos which provide legal background or an explanation of market practices and procedures.
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Par Confirm
This agreement is in two parts and is used to evidence the trade of a performing loan. The first part is completed by the parties.
Par Confirm – STCs
This agreement is in two parts and is used to evidence the trade of a performing loan. The second part includes the standard terms of…
Distressed Confirm
This document is in two parts and is used to evidence the trade of a distressed loan. The first part is completed by the parties.
Blacklined of the Distressed Confirm – STCs
This document is blacklined against the December 16, 2020 exposure draft.
Distressed Confirm – STCs
This document is in two parts and is used to evidence the trade of a distressed loan. The second part includes the standard terms of…
Purchase and Sale Agreement for Distressed Trades – TSTs
This agreement is in two parts and is used to settle a distressed trade. The first part includes the Transaction Specific Terms and is completed…
Purchase and Sale Agreement for Distressed Trades – STCs
This agreement is in two parts and is used to settle a distressed trade. The second part includes the Standard Terms and Conditions.
Participation Agreement for Par/Near Par Trades – TSTs
This agreement is in two parts and is used to settle a par trade where the buyer cannot become a lender of record and must…
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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.
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