Euromoney Legal Training

Course overview

This course is the follow on to our ever popular Documenting International Bond & Debt Issues training programme that has run for more than ten years. On this course participants will examine a substantial range of clauses needed by every international lawyer when involved in a bond & debt transaction. By analysing each in-depth delegates will gain practical experience in negotiating negative pledge clauses and structuring a secured transaction.

The course will consist of a series of lectures and workshops that will provide a practical insight into dealing with the documentation of bond & debt transactions. Participants will leave the course with all the essential tools they need to do their jobs with maximum effect having been guided through the details of such a transaction.

Why you should attend

• Participants attending this course will:
• Learn to negotiate a negative pledge
• Examine default & enforcement clauses
• Review termination clauses
• Understand COMI and why it matters
• Grasp the relevance of choice of law & jurisdiction
• Review recent developments in the nature of disclosure and disclaimers
• Gain a thorough understanding of secured transactions

Who should attend?

• Lawyers in financial institutions
• Bankers concerned with international bond & debt offerings and particularly with documentation issues
• Regulatory affairs and compliance officers
• Lawyers in private practice with clients involved in international offerings
• Lawyers working for issuers of international bond and debt, including corporations, governments and supra-national agencies

Day 1

In-depth review of key clauses

Negative pledge

• Strengths and weaknesses
• Key provisions

Noteholder meetings & voting

• Calling meetings
• Quorum
• Role and duties of trustees

Default & enforcement

• General events of default
• The use and relevance of grace periods and waivers
• The post default world
• Options
• Roles
• Outcomes

Termination clauses

• Purpose
• Points to look for
• Current market developments

Understanding COMI

• What is it ?
• Why does it matter ?

Choice of law & jurisdiction

• Understanding the relevance of choice of law
• Understanding the relevance of choice of jurisdiction
• Exclusive versus non exclusive choices

Day 2

Disclosure & disclaimers

• Review of recent developments in the nature of :
• Recent case law
• Scope of disclaimer arrangements
• The role of “knowledge”

Secured transactions

• Key elements and structures
• Considerations in taking security
• Over-arching issues including hardening periods & claw-back risk
• Key documentary provisions
• Key security devices
• Documenting & understanding priorities and payment flows
• Waterfalls
• Roles pre and post enforcement

Workshop 1:

Review and negotiate a negative pledge clause

Workshop 2:

Structuring a secured offer

• Claire Pointing

  Claire Pointing
  
  Claire is a solicitor with over 15 years experience in structured finance and capital markets in London and Paris.
  
  Claire has worked at Norton Rose, Cadwalder and Gide Loyrette Nouel, and has advised on numerous European bond, MTN and commercial paper offerings. She is currently a senior member of the debtXplained team which provides market focused reviews and information on high yield transactions, led by Stephen Mostyn-Williams.
  
  In addition to legal practice Claire has worked in strategy consulting with LEK Consulting LLP and has carried out research at Oxford University and New York University School of Law. Claire has also completed the corporate finance programme at London Business School.
  

  Courses run by this instructor

  • Debt Restructuring - London
  • Bond & Debt - London
  • Advanced Bond & Debt - London
  • High Yield Bonds - London - NEW
  • Bond & Debt - Stockholm

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.

Advanced Bond & Debt - London

22-23 Mar 2012 (London, United Kingdom)
13-14 Sep 2012 (London, United Kingdom)

The Euromoney Legal Training course will consist of a series of lectures and workshops that will provide a practical insight into dealing with the documentation of bond & debt transactions. Participants will leave the course with all the essential tools they need to do their jobs with maximum effect having been guided through the details of such a transaction.

Bond & Debt - London

19-21 Mar 2012 (London, United Kingdom)
10-12 Sep 2012 (London, United Kingdom)

The aim of this Euromoney Legal Training course is to examine the most important legal issues which arise in the documentation of international offerings of Eurobonds. The course looks at contentious clauses in the documentation of debt issues, with particular reference to problems which may arise in areas such as material adverse change and default.

High Yield Bonds - London - NEW

1-2 Mar 2012 (London, United Kingdom)

Transaction Structures and Key Legal Issues

Bond & Debt - Stockholm

9-11 May 2012 (Stockholm, Sweden)

The aim of this Euromoney Legal Training course is to examine the most important legal issues which arise in the documentation of international offerings of Eurobonds. The course looks at contentious clauses in the documentation of debt issues, with particular reference to problems which may arise in areas such as material adverse change and default.