After a year of the credit crunch, lenders are seeking more restrictive lending terms. Against this backdrop, the ACT has taken the opportunity to look in more detail at the Loan Market Association’s recommended form of facilities agreement for leveraged transactions.
The new ACT borrower’s guide to the LMA facilities agreement for leveraged transactions, produced for the ACT by Slaughter and May, is being published to coincide with the completion of the LMA’s own review of this agreement.
The LMA’s revised version of its recommended form of facilities agreement for leveraged transactions was released in September. It is an important document in the context of leveraged financing transactions, and along with the ACT guide, will also be relevant for financing transactions for cross-over and other non-investment grade credits and, in some respects, for all acquisition financing transactions.
