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
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Claire Pointing
Claire Pointing is a highly experienced banking and finance lawyer with over 15 years experience in advising on a wide range of debt finance transactions.
Claire trained and practiced in the Banking and Finance department of Norton Rose where she advised lenders and borrowers on a wide range of complex asset finance and loan arrangements including:
• The merger of the P&O and Stena Line short sea fleet;
• The financing of the voyager of the seas
• Numerous bilateral, club and syndicated loan arrangements.
After a break from the law as a strategy consultant and academic, Claire returned to practice as a partner level Consultant advising on all English law aspects of banking and finance transaction including:
• cross border loan finance arrangements,
• hostile and consensual restructuring of debt finance transactions and
• loan finance arrangements embedded in complex capital markets transactions.
She led the team that structured and delivered the highly innovative Hertz International Securitisation that utilised loan arrangements within a portfolio of assets to provide the cash flows underlying the securitisation. She has also recently advised on both subordinated debt structures and on pan-European secured lending arrangements for the mandated lead arranger. She is noted in the Legal 500 for blending “‘strong interpersonal skills and commerciality”.
In addition to her experience in practice, Claire devotes a significant amount of her time to delivering internal and client focused training on the issues relating to debt finance in the current market. Her experience in strategy consulting and the commercial sector enables her to make complex legal and commercial issues accessible.
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.
3-5 Jul 2012 (Dubai, United Arab Emirates)
This Euromoney Legal Training course is the follow on to our ever popular Loan Documentation training programme. 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 Jun 2012 (London, United Kingdom)
13-14 Jun 2012 (London, United Kingdom)
Understanding the Documentation
10-12 Jun 2012 (Dubai, United Arab Emirates)
This three-day intensive course will cover all aspects of security documentation focusing on the anatomy of the security document itself and the legal ramifications of an incorrectly drafted document.
30 May 2012 - 1 Jun 2012 (London, United Kingdom)
12-14 Sep 2012 (London, United Kingdom)
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.
5-9 Mar 2012 (Johannesburg, South Africa)
A combination of two of Euromoney Legal Training’s most popular courses. The basic Loan Documentation 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. The advanced course will deal with the more structural and commercial side of the loan agreement and will give you more opportunities to practice making and responding to comments on the documents.
16-18 Apr 2012 (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.
6-8 Jun 2012 (Zurich, Switzerland)
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.
24-26 Sep 2012 (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.
11-13 Apr 2012 (London, United Kingdom)
Essential Documentation and Procedural Issues
21-23 May 2012 (London, United Kingdom)
An advanced legal guide to taking & enforcing security in the domestic & crossborder transactions
9-11 Jul 2012 (Johannesburg, South Africa)
This three-day intensive Euromoney Legal Training course will cover all aspects of security documentation focusing on the anatomy of the security document itself and the legal ramifications of an incorrectly drafted document.
27-29 Mar 2012 (London, United Kingdom)
27-30 Mar 2012 (London, United Kingdom)
19-21 Jun 2012 (London, United Kingdom)
19-22 Jun 2012 (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.
7-9 Mar 2012 (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.
23-25 May 2012 (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.
Comments
This course has now expired please email us to find out when the course will next be running.