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.

Summer may be ending, but this night is just getting started! Join us afterwards for networking and summer sendoff fun!

EVENT DETAILS

Tuesday, September 10, 2019
6PM to 8PM (ET)
Location|See Below
Registration|Open to LSTA Members

Register For This Event

SPEAKERS

  • Douglas Campbell, Director, Fitch Ratings, Intro
  • Wynne Comer, COO, AGL Credit Management
  • Judith Fishlow Minter, Managing Director, RBC Capital Markets
  • Kenneth Riaz, VP, Analytics & Strategy, LSTA, Intro
  • Fran Sutter, Managing Director, Head Loan Trader, Citigroup
  • Tommy Wong, Partner & Portfolio Manager, Oak Hill Advisors

LOCATION

ISDA Conference Center
10 E. 53rd Street, 8th Floor
New York, NY 10022



Young Professionals Event (September 10, 2019)

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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.