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Amicus Roundup: On a Winning Streak

In the past year the LSTA weighed in as amicus curiae (friend of the court) in four cases of enormous importance to the loan market.  Happily, the results in the two cases decided so far have been decidedly good.  The two other cases have been fully briefed and argued and await decision in the next few months. The cases are recapped below.

Stonehill Capital Management v. Bank of the West

The Court ruled that (i) a seller at auction cannot withdraw a loan after it has accepted a winning bid for that loan, and (ii) an oral loan trade is enforceable so long as it identifies the material terms of the trade even if it is subject to documentation. The LSTA filed this amicus brief in this case […]

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Mark-to-Market Monthly November Summary

Last month in this space we boldly wrote “there is a silver lining for loans: they appear to be oversold”. And sure enough, following its worst monthly print this year (-0.45% in October) the S&P/LSTA Leveraged Loan Index (LLI) produced a four-month best 0.6% November return.

Demystifying the LSTA’s SOFR Concept Credit Agreement

Last week the LSTA hosted its Demystifying the LSTA’s SOFR Credit Agreement webcast presented by Jeffrey Nagle of Cadwalader, Wickersham & Taft LLP, the LSTA’s project counsel, and the LSTA’s Tess Virmani.

Semi-Annual Oil & Gas Industry Update Presentation

Energy finance practitioners from Haynes and Boone, LLP will discuss current energy finance topics, including the latest trends in oil and gas finance. The presentation was done by Eli Columbus, Partner, Bankruptcy Practice Group, Kraig Grahmann, Partner, Energy Finance Practice Group, Kim Mai, Associate, Commodities Trading & Finance Practice Group & Jeff Nichols, Co-Chair of […]

LIBOR: The Future of Forward Looking Term SOFR

The syndicated loan market would really like an IOSCO-compliant Forward Looking Term SOFR to develop. If such a rate developed, it would solve several problems inherent in SOFR.