Syndicated Loan Agreements: Amend and Extend, Borrower and Affiliate Lender Buybacks, Cashless Rolls and Disqualified Institutions

11/13/2014 01:00 p.m. - 02:30 p.m. PST

Financial Transactions

Geoffrey R. Peck

Geoffrey R. Peck

Webinar

Download presentation materials.

As the syndicated loan market continues to grow, loan provisions are evolving to address anticipated problems. One trend is for borrowers to negotiate amend-and-extend provisions to give flexibility to extend existing loans while lenders are receptive.

Cashless rolls are being used with much greater frequency in refinancing of syndicated facilities and amend and extend transactions. Borrower and affiliate lender buybacks, institutionalized during the credit crisis, are standard today. As such, cashless roll and buyback provisions have been included in the newest version of the LSTA’s Model Credit Agreement Provisions.

While the pro-rata sharing principle is conceptually simple, credit agreement parties must carefully approach crafting and enforcing the provisions due to the complexity and host of legal issues that emanate from pro-rata sharing.

Listen as our authoritative panel of finance attorneys discusses the drafting of several critical provisions for syndicated loan agreements.

Speakers:

  • Geoffrey Peck, Partner, Morrison & Foerster
  • Bridget K. Marsh, Executive Vice President - Deputy General Counsel, The Loan Syndications and Trading Association
  • Tess Virmani, Assistant General Counsel, The Loan Syndications and Trading Association
  • Ted Basta, Senior Vice President of Market Analysis & Data, The Loan Syndications and Trading Association

CLE credit will be offered.

Email Disclaimer

Unsolicited e-mails and information sent to Morrison & Foerster will not be considered confidential, may be disclosed to others pursuant to our Privacy Policy, may not receive a response, and do not create an attorney-client relationship with Morrison & Foerster. If you are not already a client of Morrison & Foerster, do not include any confidential information in this message. Also, please note that our attorneys do not seek to practice law in any jurisdiction in which they are not properly authorized to do so.

©1996-2018 Morrison & Foerster LLP. All rights reserved.