Bills of exchange—structure and partiesBills of exchange are negotiable instruments that represent an unconditional promise by one party to pay...
Term Loan B facilitiesThis Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in...
Invoice discounting and factoringThe popularity of financing business through the invoice discounting and factoring of receivables has grown...
Common financial covenantsThis Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum...
Acquisition finance—mandatory and voluntary prepayment clausesIt is common for facility agreements to require the borrower(s) to prepay all or part of the facility on the occurrence of certain events, known as mandatory prepayment events. For a general discussion of common mandatory prepayment
Loan Market Association (LMA) leveraged documentationDevelopment of the Loan Market Association (LMA) documentationThe project to develop the LMA investment grade documents began in 1998 as a response to demand in the market for a standard form of syndicated facility agreement. The development of
Acquisition finance—senior facilitiesThis Practice Note is intended as an introduction to facilities typically contained in a leveraged senior facilities agreement (SFA) and covers:•the main characteristics of each type of senior facility•typical senior lenders•documenting the terms of the senior
Acquisition finance—representations, covenants and events of defaultThis Practice Note discusses:•the purpose of and typical representations in a leveraged senior facilities agreement (SFA) and how these differ from those in an investment grade facility agreement•common ways for the sponsor to
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