Mutual Fund Exemptive Relief
On March 26, 2020, the Securities and Exchange Commission's Division of Investment Management issued a no-action letter providing emergency relief to registered open-end investment companies…
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Ratings, Rescue Packages and CLOs
Companies are being downgraded at a furious rate due to the ongoing Covid-19 crisis. Unprecedented downgrades could limit CLOs’ ability to reinvest (and hence continue…
Loan Market Rallies Off Its Lows
Finally, the markets have seemed to found a bottom, or at least a temporary reprieve from the record setting declines witnessed over the past two…
The CARES Act: What does it mean for the broadly syndicated loan market?
This week Congress is set to pass the CARES Act, a sprawling, 800-page, $2 trillion stabilization package.
COVID-19 Outbreak and Credit Agreements Recap
On March 25th the LSTA hosted a webinar, “COVID-19 and Credit Agreements – What You Need to Know”, which was presented by Michael Chernick and…
LIBOR Cessation: We Still Must Assume it’s December 2021
As a member of the Alternative Reference Rates Committee (ARRC) and Co-Chair of the ARRC’s Business Loans Working Group, the LSTA has received many inquiries…
Preserving Liquidity in RSAs
The LSTA has distributed to members the Exposure Draft of the LSTA’s Model Transfer Provisions for Restructuring Support Agreements (RSAs).
Loans: Liquidity, Credit and CLOs
It’s still not pretty out there, and loans still are no exception. This week, we focus on i) how companies are responding to liquidity concerns,…
Coronavirus Sell-off by the Numbers
he severity of the Coronavirus induced economic downturn struck the corporate loan market late last month. During the last five trading sessions of February, the…
Registered Investment Advisers in the Loan Market: Dealing with COVID-19 Disruption
Like virtually all financial markets, the syndicated loan market has been materially disrupted by the COVID-19 pandemic.
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