October 3, 2018 - On October 2nd we published in final form the LSTA’s Documents for Latin American Cross-Border Transactions which now address issues which arise when the borrowers are located in Chile, Colombia, Mexico, or Peru. LSTA members may recall that, four years ago, we began to tackle the expansion of our existing suite of documents so that they could be used in certain cross-border transactions. The project was launched in response to requests made by some of our sell-side members to standardize certain documents. They advised that they were modifying LSTA documents when they sought to trade loans made under New York law governed credit agreements to borrowers located outside the US (in particular, in Latin America) and asked that we take this on as a project. In response to those requests, we are delighted to announce that we have now published updated and expanded versions of the LSTA Model Credit Agreement Provisions for Latin American Cross-Border Transactions, Par/Near Par Trade Confirm for Cross-Border Trades, and the Participation Agreement for Par/Near Par Cross-Border Trades. Those publications now address issues which arise when the borrowers were located in Chile, Colombia, Mexico, or Peru. Click here for the links.
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