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Loan Documentation
Essential resources for anyone contemplating negotiating loan finance documentation for a borrowing company
Table of Contents [hide]
Before you start to negotiate loan documentation
- Loan documentation - A Beginners Guide: Five Steps to Preparing for the Negotiation
- More background - The International Treasurer's Handbook 2007: An Introduction to Loan Finance
The loan documentation for investment-grade borrowers
This Guide explains the LMA investment grade loan facility documentation with particular emphasis on the advantages and disadvantages for borrowers and points for negotiation. It is a substantive update of previous versions of the Guide and includes new material on a range of topics as well as consolidating all the previous periodic updates.
The Guide has been produced by the ACT with assistance and sponsorship from Slaughter and May (www.slaughterandmay.com). It is in three parts:
- Part I is an overview including the amendments made to the investment grade agreements in 2009 and the market conditions provisions of 2009
- Part II is a commentary on the provisions of the Agreement.
- Part III covers some of the LMA ancillary documentation, including the Confidentiality Letters.
The loan documentation for leveraged transactions
This guide is in two parts:
- Part I contains an overview of the Leveraged Facilities Agreement. It also contains a summary of certain key points for negotiation (which are explored in more detail in Part II).
- Part II is a commentary on certain key provisions of the Leveraged Facilities Agreement (and an explanation of some key omissions). It provides background to the most commonly negotiated aspects of the document and includes a series of "Borrower Notes" highlighting particular issues which Borrowers may wish to discuss with Lenders.
About Slaughter and May
Slaughter and May is a leading international law firm, which is well known as an advisor to corporate treasurers in their dealings in the domestic and international banking markets. Andrew Balfour, a partner of Slaughter and May, is an Honorary Fellow of the ACT and a member of its Technical Committee. He has been a member of the Working Party of lawyers contributing to the development of the LMA form of syndicated loan agreement since it was first established.
