LSTA members should be well apprised of the ARRC consultation on syndicated loans for which the comment period recently ended. Several of the key questions in that consultation are “what is the right fallback rate (eg, forward looking term SOFR, compounded SOFR (in advance or in arrears) or overnight SOFR)” and “how to create a spread adjustment that makes secured, risk-free SOFR more like LIBOR”.
On November 8, the LSTA hosted a webinar on “Antitrust Issues in Syndicated Loan Transactions” presented by Olivier Antoine, Scott Lessne, and Dan Zelenko of Crowell & Moring. Although syndicated loan arrangements undoubtedly foster efficiencies for both borrowers and lenders and competition by increasing the overall availability of credit and by spreading risk amongst a group of lenders, the potential exists for the creation of anti-competition agreements and for the impermissible sharing of information at critical points in the syndication process.
This week we cover Long-Term Loan Terms; Fiduciary Standards & You; LSTA Oral History
LSTA submitted to the Commodity Futures Trading Commission (“CFTC”) and the Securities and Exchange Commission (“SEC) a comment letter to highlight the importance of loan participations in the U.S. and global markets for syndicated loans.
LSTA issued a White Paper that discussed the importance of syndicated loans and CLOs to U.S. companies.
Become a Member
Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.