Search Results

Total Results: 

Loan Market Young Professional – End of Summer Soirée!

The LSTA, together with Fitch LevFin Solutions, invites you to the third event in our Navigating Your Loan Market Career series! This fireside chat moderated by LSTA EVP, Lisa Schneider, will feature three industry experts as they recount their personal career growth in areas including capital markets and strategy, sales and trading and loan structured products. […]

Thursday, September 12, 2019

Bridget Marsh, EVP & Deputy General Counsel, will be on a panel, “Introducing Arbitration for Resolution of Commercial Finance Disputes”, at the ABA Business Law Section Annual Meeting in Washington, DC

Friday, September 13, 2019

Tess Virmani, Associate General Counsel & SVP – Public Policy and Chair of the ABA Syndications and Lender Relations Subcommittee, will be hosting Elena Romanova and Jane Summers, partners at Latham & Watkins LLP, for a presentation on the impact of tax reform on financings at the Subcommittee’s meeting at the ABA Business Law Annual […]

Loan Market Conference – Mexico City

EVENT DETAILS Thursday, September 26, 20194PM to 7:30PM (CDT)Location|See BelowRegistration|See BelowPrice|Free SPEAKERS Bridget Marsh, EVP & Deputy General Counsel, LSTA Thomas Mellor, Partner, Morgan, Lewis & Bockius LLP Michell Nader S., Partner, Nader, Hayaux & Goebel Mark Pesso, Partner, Clifford Chance US LLP Elizabeth Tabas Carson, Partner, Reed Smith LLP Tess Virmani, Assoc. General Counsel, […]

Friday, October 4 and Saturday, October 5 2019

Bridget Marsh, EVP & Deputy General Counsel, will represent the LSTA as an Observer at the Uniform Law Commission and American Law Institute Joint Committee Session on the Uniform Commercial Code and Emerging Technologies in Denver, CO

Tuesday, October 8, 2019

Tess Virmani, Associate General Counsel & Senior Vice President, Public Policy, will speak about green and sustainable loans at Environmental Finance’s 2nd Green Bonds Asia at the the Conrad in Hong Kong.

Wednesday, October 9, 2019

Tess Virmani, Associate General Counsel & Senior Vice President, Public Policy will be presenting “Life After LIBOR” at the APLMA’s event at BNP Paribas in Hong Kong.

Friday, October 11, 2019

Bridget Marsh, EVP & Deputy General Counsel, will participate in, and present on the LSTA’s automated revolving credit facility at, the University of Pennsylvania Law School’s Smart Contracts Workshop.

Wednesday, October 23, 2019

Tess Virmani, Associate General Counsel & Senior Vice President, Public Policy, will be speaking at ISDA Symposium Benchmark Reform: Update on ISDA and Industry Initiatives in New York City.

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.

Our Partners

cusip-global-services-vector-logo.svgFitch Group logoRefinitiv-(March-2019)SP-Global-Market-Intelligence

Search Results by Relevancy

LSTA Newsletter: August 16, 2019

This week we cover LIBOR-Good News and Less Good News; Docs Terms of Use; Delayed Comp Docs Released; Loans Mag Announcement

Loans Magazine – Summer 2019 Edition

This edition provides members with valuable content on the latest developments in the syndicated loan market. An article from David Chmiel of Global Torchlight Limited which explores “Current Geopolitical Trends Impacting the Loan Market”. We continue with a series of articles on the many aspects of the LIBOR/SOFR transition, an analysis of the secondary loan […]

LIBOR Fallbacks: Good News… and Less Good News

There is good news – and less good news – on LIBOR fallback language in cash products like loans, FRNs and CLOs. On the good news front, it looks like most cash products are now including fallback language in new deals. This is critical because many instruments will be outstanding when LIBOR ends after 2021, and if they don’t have good fallback language, there could be contract frustration (and litigation). However, on the less-good-news front, the fallback language is not always consistent (which may lead to a lot of work to determine exactly how each instrument would fall back) or workable en masse (which may lead to traffic jams as everyone tries to amend their deals at the same time). We discuss the fallback status of FRNs and loans below. (And we’d gently remind readers that several CLOs have gone “hardwired”, per LCD and Covenant Review).

Primary Delayed Compensation: Drafts Released

Yesterday, the LSTA released drafts of the LSTA trading documents to be used in connection with the new Primary Delayed Compensation Protocol. Below, please find links to the clean drafts and blacklines marking the changes to the current versions of the Par/Near Par Trade Confirmation and Standard Terms and Conditions for Par/Near Par Trades.

Primary Delayed Compensation Protocol

The Protocol applies to a “Primary Allocation” which is an allocation of new money by a syndicate desk in connection with either (i) a new issue syndication or (ii) an amendment of an existing Credit Agreement. In addition, the Protocol affects when-issued secondary trades by (i) changing what constitutes an Early Day Trade and (ii) […]

FAQs: The LSTA Trading Documents’ New Terms of Use

As we previously noted, on May 17, 2019, the LSTA published a new suite of U.S. secondary market trading documents. In conjunction with the rollout of the new documents the LSTA changed the Terms of Use applicable to counterparties who use those documents. Since then, we’ve received many questions about the new Terms of Use and below we answer many of those questions.