Guide_to_Par_Syndicated_Loans

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1、GUIDETOSYNDICATEDLOANSCONTENTSClausePage1.Introduction........................................................................................12.TypesOfFacilityCommonlySyndicated......................................................13.PartiesToASyndicatedLoan.....................................

2、..............................24.DocumentationForASyndicatedLoan........................................................45.Timing..............................................................................................56.SyndicationLoanTransfers..............................................

3、........................5GUIDETOSYNDICATEDLOANS1.INTRODUCTIONBorrowingbywayofaloanfacilitycanprovideaborrowerwithaflexibleandefficientsourceoffunding.Ifaborrowerrequiresalargeorsophisticatedfacilityormultipletypesoffacilitythisiscommonlyprovidedbyagroupoflendersknownasasyndicateunderasyndicatedl

4、oanagreement.Asyndicatedloanagreementsimplifiestheborrowingprocessastheborrowerusesoneagreementcoveringthewholegroupofbanksanddifferenttypesoffacilityratherthanenteringintoaseriesofseparatebilateralloans,eachwithdifferenttermsandconditions.Thepurposeofthisnoteistoprovideguidanceonvariousaspectso

5、fasyndicatedloantransaction,focusingonthefollowing:(i)thetypesofborrowingfacilitiescommonlyseeninasyndicatedloanagreement;(ii)adescriptionofthepartiestoasyndicatedloanagreementandanexplanationoftheirrole;(iii)abriefexplanationofthedocumentationenteredintobytheparties;(iv)thetimelineforatypicalsy

6、ndicatedloantransaction;and(v)adescriptionofthecommonmethodsusedbylenderstotransfersyndicatedloanparticipations.TheguidanceinthisnoteisgivenonthebasisofatypicalsyndicatedloantransactionundertakenintheEuropeanloanmarketasenvisagedintheLMAPrimaryLoandocumentsandgovernedbythelawsofEngland.Thisnotei

7、snotintendedtoprovideadetailedexplanationoftheprovisionsoftheLMAPrimaryLoanAgreements-guidanceonthisissetoutinthe"UsersGuidetotheRecommendedFormofPrimaryDocuments"publishedbytheLMAandavailabletoLMAmembersontheLMAwebsite.2.TY