August 21, 2019 - In observance of Labor Day, the Loan Syndications and Trading Association (LSTA) recommends treating Monday, September 2, 2019 as a loan market holiday for purposes of calculating delayed compensation under the LSTA standard forms of trade confirmation.

Delayed compensation accrues on loan market trades that do not settle within a set number of business days after trade date.  Business days do not include Saturdays, Sundays or any day the Federal Reserve Bank of New York is closed.  The LSTA recognizes both the New York Stock Exchange and the Federal Reserve Bank of New York holiday closings when making its recommendations.  Both will be closed on Monday, September 2nd in observance of Labor Day.

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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.