Legal & Documentation

What you need to know about originating and trading loans may be found here.  The basics of credit agreements, trading loans on standard LSTA agreements, and analysis of legal and regulatory trends are discussed.

Level 1

LSTA University Level 1
  • Settling a Loan Trade Video

    This video presented by Tess Virmani, SVP & Associate General Counsel, offers a high-level overview of the documents used to settle a loan trade.

  • Intro to Loans, Loan Agreements & the Loan Market

    A basic presentation on “Loans, Loan Agreements & the Loan Market” given by Bridget Marsh, EVP & Deputy General Counsel and Tess Virmani, SVP & Associate General Counsel.

  • 8 Things You Need to Know About Sustainable Finance

    While the majority of sustainable finance activity has been on the equities side, the fixed income markets have also seen the development of green and sustainability linked products. On the loans side, the US loan market saw its first green loans and sustainability linked loans in 2018. Here are eight things you need to know about loans in the ever-changing world of sustainable finance.

Level 2

LSTA University Level 2
  • LIBOR Loan/ARRC Recommendations

    Alternative Reference Rates Committee (“ARRC”) released its recommended LIBOR fallback language for U.S. dollar business loans and FRNs. The LSTA, as co-chair of the ARRC Business Loans Working Group, shepherded the process along with Cadwalader and the ABA.

  • Sustainability Linked Loan Principles (SLLP)

    Sustainability linked loans aim to facilitate and support environmentally and socially sustainable economic activity and growth. The Sustainability Linked Loan Principles (SLLP) have been developed by an experienced working party, consisting of representatives from leading financial institutions active in the global syndicated loan markets.

  • Green Loan Principles

    The green loan market aims to facilitate and support environmentally sustainable economic activity.  The Green Loan Principles (GLP) have been developed by an experienced working party, consisting of representatives from leading financial institutions active in the syndicated loan market, with a view to promoting the development and integrity of the green loan product.

Level 3

LSTA University Level 3

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LSTA Newsletter – October 18, 2019

This week, we start by announcing that the LSTA is developing a “SOFR Compounded in Arrears” concept credit agreement. It is one more tool to help members internalize what a SOFR Loan Market might look like. Next, we provide an updated suite of documents on Primary Delayed Compensation. Finally, we offer a brief update on LSTA […]

Flashforward: LSTA Releases Draft SOFR “Concept Credit Agreement”

On October 1st the LSTA took the next step in its efforts to educate market participants on replacement benchmarks by distributing a draft “concept credit agreement” referencing a compounded average of daily SOFRs calculated in arrears (“Compounded SOFR in Arrears”).

LSTA Advocacy Update

Over the past two weeks the LSTA has continued its political advocacy with legislators and regulators on issues of importance to the loan market. Last week, Meredith Coffey and Elliot Ganz, Co-heads of the LSTA’s Public Policy Group, had the opportunity to join Congressman Greg Meeks (D. NY) for a free-ranging discussion over breakfast.

Primary Delayed Comp: Revised Drafts Released

The LSTA released revised drafts this week of the LSTA trading documents to be used in connection with the new Primary Delayed Compensation Protocol. Below are links to the clean drafts and blacklined documents marked to show changes since the last versions sent to you for your review.