A Guide To The Loan Market Association 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.