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US Tax Reform and the Loan Market

The Tax Cuts and Jobs Act enacted at the end of 2017 has impacted businesses and individuals and alike. After its passage, the LSTA hosted Latham & Watkins for a webcast on the projected impact of tax reform on financings. While predictions could be made then, much of the detail was left to implementing guidance and was then unknown. Last week, roughly 18 months later, Jiyeon Lee- Lim, Elena Romanova and Jane Summers, partners at Latham & Watkins, returned to give an update now that some of those details have been filled in.

Taxing Questions (and the Loan Market)

Since the tax reform was signed into law last December, LSTA members have wondered what it means for the loan market (and for themselves). We have begun to answer at least part of the first question. On Thursday, January 30, 2018, Jiyeon Lee-Lim, Elena Romanova and Jane Summers, partners at Latham & Watkins, laid bare the new tax rules generated by the Tax Cuts and Jobs Act. While the Act includes important changes impacting businesses and individuals, the panelists highlighted those new tax rules particularly relevant for financings.

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LSTA Newsletter: January 24, 2020

This week we recap secondary trading for 2019, give an update on LIBOR transition in the U.K., and let you know that we’ve published a credit agreement for investment grade term loans.

LSTA Secondary Trading 2019 Executive Summary

After recording consecutive record highs during the fourth quarter of last year ($211 billion) and again during the first quarter of this year ($212 billion), secondary loan trading volumes decreased 10% in the second quarter, to $191 billion.

LSTA Publishes its Second Credit Agreement

Today the LSTA published a new addition to its document library – the LSTA’s Form of Credit Agreement – Investment Grade Term Loan. This form is designed for a standalone term loan for investment grade borrowers.