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
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
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
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
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
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
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 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
Few cases in recent memory have stirred up as much concern and controversy in the syndicated loan market—on both sides of the Atlantic—as the Revlon case. The ruling of the New York federal court in Revlon was that the...more
Le 13 avril 2021, la Loan Market Association (« LMA »), la Loan Syndications and Trading Association (« LSTA ») et l’Asia Pacific Loan Market Association (« APLMA ») ont publié conjointement leurs principes applicables aux...more
On April 13, 2021, the Loan Market Association (LMA), the Loan Syndications and Trading Association (LSTA) and the Asia Pacific Loan Market Association (APLMA) jointly published their Social Loan Principles (SLPs)....more
Le 19 janvier 2021, conjointement avec les Principes pour l’Investissement Responsable (les « PIR »), la European Leveraged Finance Association (l’« ELFA ») et l’association londonienne Loan Market Association (la « LMA »)...more
On January 19, 2021, together with the Principles for Responsible Investment (PRI), the European Leveraged Finance Association (ELFA) and the London-based Loan Market Association (LMA) jointly published a Guide for Company...more
The Loan Market Association ("LMA"), Loan Syndication and Trading Association ("LSTA") and Asia Pacific Loan Market Association ("APLMA") have published new guidance on the key aspects of the Green Loan Principles ("GLP") and...more
The present and future impact of climate change, human rights violations, corruption, environmental, labour and regulatory violations and poor corporate governance on the quality of investments and the associated credit risks...more
In 2019, sustainable finance went mainstream. Thanks to the publication by the Loan Syndications and Trading Association (LSTA), the Loan Market Association (LMA) and the Asia Pacific Loan Market Association (APLMA) of the...more
Post-crisis commercial mortgage-backed securities ("CMBS") issuance in Europe has been on the slow-burner with only a handful of transactions each year. The year 2018 saw European "CMBS 2.0" experience something of a revival...more
Much has been written about the influence of US terms on European transactions and particularly the steady migration of US concepts into English law facilities agreements, resulting from the supply-demand imbalance in the...more
Governments and multilaterals alone cannot finance the transition to a sustainable, low-carbon economy: the world's savers (via the banks and bond market) represent the only pool of capital deep enough. The OECD estimates...more
Major international syndicated lending organizations — the Loan Syndications and Trading Association (LSTA), Loan Market Association (LMA) and Asia Pacific Loan Market Association (APLMA) — recently published an extended set...more