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Loan Syndications and Trading News

February 9, 2017 - While U.S. lenders – and borrowers – wonder whether the financial regulatory system may quickly ease under President Trump, the reality is that regulatory changes may take time to come to fruition, as noted here and here last week.  At the same time that U.S. participants hope for easing, European lenders may fear the imposition of greater restrictions.

February 9, 2017The Loan Syndications and Trading Association is producing a series of short videos on blockchain, also known as distributed ledger technology.  In each video, the LSTA’s Deputy General Counsel, Bridget Marsh, interviews Joe Dewey, partner of Holland & Knight, and one of the authors of “The Blockchain: A Guide for Legal and Business Professionals”.

February 8, 2017 - This week a new LSTA working group met to launch an important and timely new project to review and update the LSTA’s Code of Conduct (the “Code”) and its Statement of Principles for the Communication and Use of Confidential Information in the Loan Market (the “Principles”).  The project is critical because the Code and the Principles are no less than fundamental bedrocks of the industry.

February 7, 2017 - On Tuesday, LSTA Deputy General Counsel, Bridget Marsh, participated on a panel on “Canadian and US Syndicated Lending” at the Ontario Bar Association Institute in Toronto.  The panel, moderated by Hank White of Thomson Reuters, also included Martin Racicot of Fasken Martineau, and focused on the differences between syndicated lending practices in both jurisdictions.

February 6, 2017 - January began where December left off – with a full-fledged technical imbalance leading to rapid-fire repricings, a dividend recap binge and rapidly compressing primary spreads. Of course, December and January weren’t identical. First, the sources of demand were very different and, second, as discussed in the Secondary Review, the secondary market eased the throttle on its rapid run-up. (Coincidentally, LSTA EVP Meredith Coffey discussed these trends last week at Allied Irish Bank; the presentation is available here.)

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