Advanced Credit Documentation
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This course deals with the structural and commercial side of loan agreements and will give delegates the opportunity to developed their skills and understanding when analysing key credit documents.
The course will cover a substantial range of topics including the distinction between loans and bonds, provisions in credit protection, key clauses in the loan agreement, the loan agreement in different commercial contexts and legal issues that arise in financing transactions.
The course is also useful for those with practical experience but who have not previously had any formal in depth training on the agreements, to help them fill in the inevitable gaps in their understanding and to give them a framework in which to consolidate their practical skills and knowledge. It is also useful as a refresher for more seasoned practitioners.
DURING THIS COURSE YOU WILL:
- Be guided through the essential elements of various loan transactions
- Appreciate how to avoid the conflict between representations, conditions precedent, undertakings and events of default
- Discuss a variety of issues and comments on the loan agreement which are commonly raised by borrowers
- Improve your knowledge of other common financing documents including a contract assignment and a subordination agreement
- Be able to negotiate key clauses in a financing package
- Understand the continuing issues surrounding and impact of the post-financial crisis world in relation to credit documentation
How You Will Learn
An agenda full of in-depth discussions and practical exercises You will cover:
Role and influence of LMA Documentation; General approach to the Loan agreement; Key contractual provisions in credit protection; protecting against value leakage; The LMA primary loan senior facility agreements; Interest & fees; Covenants; MAC/MAE
With practical exercises including ; Comparing loan and bond documentation as prepared by a city firm; Analysing permitted payments and undertakings from mezzanine creditors; Analysing various clauses found in documents produced by Magic Circle City firms