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Loan Market Association

Mayer Brown

Sustainability Coordinators: A Transatlantic Comparison

Mayer Brown on

On April 24, 2024, the Loan Market Association (the “LMA”) published its Sustainability Coordinator Letter (the “LMA Letter”). According to the LMA, the LMA Letter is “intended to provide a starting point for a sustainability...more

Blake, Cassels & Graydon LLP

New Guidance on the Sustainability-Linked Loan Principles in Fund Finance

In March 2024, a group of associations in the fund finance industry announced the release of the latest addition to the Sustainable Lending Library, A Guide to the Application of the Sustainability Linked Loan Principles in...more

Proskauer - Minding Your Business

UK Signs Hague 2019: New Clarity For Enforcement Of Choice Of Court Clauses In Finance Documents

Effective choice of court clauses (also known as jurisdiction clauses) are central to finance agreements. Reliable, certain process to enforce contractual obligations is essential for cross-border trade and finance...more

Paul Hastings LLP

Loan Market Update: Q1-Q3 Recap, Trends & What’s Next

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From Q1-Q3 of 2023, the U.S. loan market was marked by novel deal patterns and uneven market activity. Initially, the bulk of deals were portfolio work, including amend & extend transactions, covenant relief amendments and...more

Cadwalader, Wickersham & Taft LLP

UK Regulator Raises Concerns over the Sustainability-Linked Loans Market, Including Potential Greenwashing

On June 29, 2023, the Financial Conduct Authority, the UK’s financial markets regulator, released a summary of its concerns over the market for sustainability-linked loans (SLLs). Responding to concerns that banks overstate...more

Hogan Lovells

SLLs: Recent oversight developments and comparing the LMA, LSTA and APLMA approaches

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The LMA published its Draft Provisions for Sustainability-Linked Loans on 4 May 2023, following on from the updated the Sustainability Linked Loan Principles published in February 2023. In this article, we take an in depth...more

Blake, Cassels & Graydon LLP

Prêts liés à la durabilité : essor du financement durable et mise à jour des indications aux prêteurs et aux emprunteurs

Un prêt lié à la durabilité s’entend de tout type d’instrument de prêt qui est structuré de façon à inciter l’emprunteur à atteindre des objectifs de rendement en matière de durabilité prédéterminés, ambitieux, importants et...more

Proskauer Rose LLP

Green Loans – The FCA's Review of the Sustainability-Linked Loans Market

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Background On 29 June 2023, the UK’s Financial Conduct Authority (“FCA”) published a letter on the findings of its review of the sustainability-linked loans (“SLL”) market. SLLs aim to support sustainable economic activity...more

Blake, Cassels & Graydon LLP

Sustainability-Linked Loans: Growth of the Sustainable Finance Market and Updated Guidance for Lenders and Borrowers

A sustainability-linked loan (SLL) is any type of loan instrument structured to incentivize the borrower to achieve ambitious, material and quantifiable predetermined sustainability performance objectives. The SLL market is...more

Cadwalader, Wickersham & Taft LLP

Going Upstream May 2023 - Sustainable Finance: Maintaining Integrity

The LSTA and LMA hosted their Joint New York Conference recently. One of the panels focused on “Sustainable Finance: Maintaining Integrity” and featured an impressive line-up of industry leaders in this space, including...more

Cadwalader, Wickersham & Taft LLP

Unlocking Sustainability-Linked Loans (UPDATED)

On February 23, 2023, the Loan Market Association (LMA), Loan Syndications and Trading Association (LSTA) and the Asia Pacific Loan Market Association (APLMA) published updates to the Sustainability-Linked Loan Principles...more

Cadwalader, Wickersham & Taft LLP

Unlocking Sustainability-Linked Loans

Cadwalader recently hosted a breakfast discussion with the Loan Market Association (“LMA”) and LSTA with the aim of “Unlocking Sustainability-Linked Loans”. During the session, Cadwalader partner Sukhvir Basran was joined by...more

Cadwalader, Wickersham & Taft LLP

LMA Senior/Mezzanine Facility Drafting Guide and LMA Intercreditor Agreements for Real Estate Finance Transactions – Updates...

The Loan Market Association has just published updates to its (a) drafting guide for its senior/mezzanine single currency term facility agreement for real estate finance multi-property investment transactions and (b) its...more

Katten Muchin Rosenman LLP

Deleveraging Through the LMA Intercreditor Distressed Disposal: How to Navigate a Challenge-Free Process

A distressed disposal (Distressed Disposal) under an LMA-based intercreditor agreement (ICA) is a powerful restructuring tool. It has the potential to significantly de-lever a business for the benefit of the “in the money”...more

Hogan Lovells

LMA, LSTA and APLMA issue revised Green, Social and Sustainability-Linked Loan Principles and Guidance

Hogan Lovells on

On 23 February 2023, the Loan Market Association (LMA), the Loan Syndications & Trading Association (LSTA) and the Asia Pacific Loan Market Association (APLMA) published updated versions of Green Loan Principles and Guidance,...more

Akin Gump Strauss Hauer & Feld LLP

The Emerging Role of a Sustainability Coordinator in Leveraged Finance Transactions – A Brief Update

As we noted previously, against the backdrop of the European Green Deal and related sustainable finance initiatives, environmental, social and governance (ESG) factors are increasingly being incorporated into loan and...more

Cadwalader, Wickersham & Taft LLP

ABCD ... ROFR and SLL June 2022 - Sustainability-Linked Loans Series, Part 2 – The Sustainability-Linked Loans Principles

In our May edition of REF News and Views, we provided an introduction to sustainability-linked loans (“SLLs”). As a reminder, SLLs emerged alongside green loans as a result of the movement towards greater awareness and...more

A&O Shearman

Time for Term SOFR?

A&O Shearman on

Term SOFR, the forward-looking term rate based on the Secured Overnight Financing Rate (SOFR), has become an established benchmark rate for new US Dollar lending in the US syndicated loan market....more

Cadwalader, Wickersham & Taft LLP

No Celebrations - March 2022 - Green Loans Series, Part 2 – The Four Core Components of the Green Loan Principles

In our February edition of REF News and Views, we introduced the Green Loan Principles (“GLP”) that were published by the Loan Market Association (“LMA”). The GLP seeks to help facilitate and support environmentally...more

Cadwalader, Wickersham & Taft LLP

Going Green February 2022 - Green Loans Series, Part 1 – Green Loans and the Green Loan Principles

In our January edition of REF News and Views, we discussed some key recent ESG developments in Europe and the UK in the financial markets. We want to follow this up over the coming months with a series of articles where we...more

Blake, Cassels & Graydon LLP

LMA, ELFA et facteurs ESG : tout ce que vous devriez savoir

BEST PRACTICE GUIDE FOR TERM SHEET COMPLETENESS - En novembre 2020, la Loan Market Association (la « LMA ») et la European Leveraged Finance Association (l’« ELFA ») ont publié le guide intitulé Best Practice Guide for...more

Blake, Cassels & Graydon LLP

The LMA, The ELFA and ESG: What You Need to Know

BEST PRACTICE GUIDE FOR TERM SHEET COMPLETENESS - In November 2020, the Loan Market Association (LMA) and the European Leveraged Finance Association (ELFA) published the Best Practice Guide for Term Sheet Completeness...more

Alston & Bird

What You Need to Know About Changes to LMA Secondary Trading Documents Due to Shift from LIBOR-Based to RFR-Based Loans

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With the end of LIBOR, the secondary debt trading industry needs new standard terms and conditions. Our Distressed Debt & Claims Trading Team reviews how the Loan Market Association has modified its documents to bring in...more

A&O Shearman

Global Financial Regulatory Trends Related to ESG Issues Outside the EU

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When it comes to sustainable lending, the Russian loan market is punching above its weight. Many of Russia’s leading corporates have raised ESG or sustainability-linked loans (in some cases, multiple loans) over the last...more

A&O Shearman

Our analysis on sustainability-linked loans in Turkey: the current state of play

A&O Shearman on

As regulators, shareholders, investors and wider society increasingly focus their attention on Environmental, Social and Governance (ESG) matters, they have crept up the boardroom agenda of large Turkish companies and...more

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