Loan Documentation, Mastering the Legal Issues - London
This three-day intensive Euromoney Legal Training course will cover all aspects of a loan transaction, concentrating particularly on the agreement itself and on the legal implications of a properly drafted and incorrectly drafted document.
Course dates
This three-day intensive course will cover all aspects of a loan transaction, concentrating particularly on the agreement itself and on the legal implications of a properly drafted and incorrectly drafted document.
You will be taken step-by-step through the process of documenting a loan, from the early stages of pre-contractual issues, letters of commitment and written offers, through to administrative provisions, representations, covenants, defaults, transfer provisions, guarantees and the eventuality of insolvency.
How this course will help you
You will:
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Be guided through the essential elements of various loan transactions
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Learn how to negotiate representations, covenants and events of default from both a lender's and borrower's perspective
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Gain a thorough understanding of the real value of security
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Recognise pre-contractual issues and the legal nature of a letter of commitment
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Improve your knowledge of interbank markets and basic administrative provisions
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Become familiar with the standard 'boilerplate' provisions
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Understand the concept of due diligence
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Be able to deal with the transfer of loan obligations
- Master common banking expressions
Who should attend
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In-house lawyers in financial institutions
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Bankers concerned with the negotiation of loans
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Bank executives involved in the documentation of loans
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Lawyers in private practice who advise clients on loan agreements
- Corporate counsel
Day 1
Introduction
The most common structures of loan transactions
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Single banks and syndicated loans
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Term loans and revolving credit facilities
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Single currency and multi-currency facilities
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Loan and guarantee facilities
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Secured and unsecured facilities
Pre-contractual Issues
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What issues should it address?
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How much detail should it contain?
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Is it intended to create a binding legal commitment?
Withholding Tax
Here we will look at withholding tax, double taxation treaties, and the consequences for the loan documentation.
Workshop - Libor Funding & Broken Funding Costs
This session will involve consideration of how the Eurocurrency interbank markets work and the consequences in the documentation in terms of:
Overview & Administrative Provisions
This session will involve an overview of the loan agreement and how it is structured to protect the lender, and an examination of the "mechanical" provisions of a typical loan agreement, such as the payments clause and the procedures to be followed on drawdown.
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Drawdown procedures
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Repayment and prepayment
Representations
Delegates will consider the purpose of the representations.
Typical representations will be considered, including common comments from either side.
Day 2
Covenants & Events of Default
Typical covenants and events of default will be discussed, including:
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Purpose
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Financial covenants
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Cross default
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Material adverse change
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“Default”
Glossary of Terms
‘Boilerplate’ Provisions & Loan Transfers
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Set-off clause
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Indemnities
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Agency clause
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Pro-rata sharing clause
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Loan transfers
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Novations
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Assignments
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Sub participations
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Derivatives
Homework Exercise
Calculate the likely recoveries of different classes of creditors in a winding up.
Day 3
Review of Homework Exercise
Security & Quasi Security
Different types of security will be considered, including:
We will also consider the different insolvency regimes in the UK and the circumstances in which security may be set aside (or enforcement restricted) under English law.
Guarantees
The important provisions of a typical guarantee will be examined as will:
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Commercial benefit and transactions at an undervalue
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Common provisions of a guarantee Due Diligence
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What issues are relevent?
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Where to conduct due diligence
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Legal opinions
Central London Hotel, London, United Kingdom
This programme takes place on a non-residential basis at a central London hotel. Non-residential course fees include training facilities, documentation, lunches and refreshements for the duration of the programme. Delegates are responsible for arranging their own accommodation, however, prior to the course the delegate will receive full Joining Instructions which will detail how to book accommodation close to the training venue. Alternatively delegates can visit www.euromoneytraining.com/accommodation to view a list of preferred hotels in Central London.
As with all Euromoney Training programmes on-site administrators will be with you at the beginning of the programme to ensure smooth administration and group interaction.
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Sue Wright
Sue is a solicitor with over 20 years' experience in international banking transactions, including syndicated loans, subordinated debt, structured finance and tax driven transactions. Sue was a partner in the banking department at Norton Rose for 8 years and was responsible for training banking assistants in Norton Rose for 2 years. Sue has been highly recommended as one of the leading experts in her field by Legal 500 and by Chambers. Sue was head of Professional Development at Herbert Smith and is now running an independent training consultancy specialising in training in international banking transactions and structured finance.
Courses run by this instructor
Interested in holding this course in-house? Please fill out your details and a member of our team will be in touch with more information.
15-17 Feb 2011 (Abu Dhabi, United Arab Emirates)
This Euromoney Legal Training course is the follow on to our ever popular loan documentation training programme that has run for more than ten years. The course will deal with the more structural and commercial side of the loan agreement and will give delegates more opportunities to practice making and responding to comments on the documents.
13-15 Apr 2011 (Copenhagen, Denmark)
This three-day intensive Euromoney Legal Training course will cover all aspects of a loan transaction, concentrating particularly on the agreement itself and on the legal implications of a properly drafted and incorrectly drafted document.
22-24 Sep 2010 (Paris, France)
This Euromoney Legal Training course is the follow on to our ever popular loan documentation training programme that has run for more than ten years. The course will deal with the more structural and commercial side of the loan agreement and will give delegates more opportunities to practice making and responding to comments on the documents.
13-15 Oct 2010 (London, United Kingdom)
13-15 Apr 2011 (London, United Kingdom)
Creditors and borrowers are facing an unprecedented and unpredictable market with many of the debt arrangements put in place during the last three to five years coming under severe pressure.
16-18 Nov 2010 (Paris, France)
This three-day intensive Euromoney Legal Training course will cover all aspects of a loan transaction, concentrating particularly on the agreement itself and on the legal implications of a properly drafted and incorrectly drafted document.
29-30 Nov 2010 (Johannesburg, South Africa)
It is essential that both creditors and borrowers understand the nature the risks presented by the current market conditions Proactive management of the issues arising from defaulting debt arrangements will assist creditors and borrowers in managing distressed situations in a way that should minimise destruction of value.
5-7 Oct 2010 (Copenhagen, Denmark)
This Euromoney Legal Training course is the follow on to our ever popular loan documentation training programme that has run for more than ten years. The course will deal with the more structural and commercial side of the loan agreement and will give delegates more opportunities to practice making and responding to comments on the documents.
6-8 Dec 2010 (London, United Kingdom)
The Euromoney Legal Training course will consist of a series of lectures and workshops that will provide you with a practical insight into dealing with the documentation of loans. By the end of the course you will be thoroughly familiar with the most important aspects of loan documentation.
6-8 Oct 2010 (London, United Kingdom)
This three-day Euromoney Legal Training course
will consider specific structures often used when
writing loan documentation and how to use loan
documents to resolve difficulties that may arise
during the life of the loan.
9-11 Mar 2011 (Amsterdam, Netherlands)
This intensive Euromoney Legal Training course will cover all aspects of a loan transaction, concentrating particularly on the agreement itself and on the legal implications of a properly drafted and incorrectly drafted document.
27-29 Apr 2011 (Moscow, Russia)
In three days the Euromoney Legal Training course will cover a substantial range of topics including structural issues, contractual support arrangements, key clauses in the loan agreement, the loan agreement in different commercial contexts and legal issues that arise in financing transactions.
24-26 May 2011 (Cairo, Egypt)
This three-day intensive Euromoney Legal Training course will cover all aspects of a loan transaction, concentrating particularly on the agreement itself and on the legal implications of a properly drafted and incorrectly drafted document.
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Course dates