More NewsLMA Launches Amendments and Waivers Guidance to Market Participants

LMA Launches Amendments and Waivers Guidance to Market Participants

Events in the international syndicated loan market over the past year have highlighted the need for a more effective approach to managing requests for amendments and waivers and the LMA has, today, launched its paper “LMA Guidelines for Dealing with Requests for Amendments and Waivers to Loan Agreements”.

The paper has been drafted after consultation with a number of banks and financial institutions and seeks to provide benchmark best practices for all market participants whether they be an agent, arranger, lender or the borrower itself.

Particular emphasis has been placed on adopting a pragmatic view, whereby participants may be required to deal with matters which are not specifically covered within the formal loan agreement. The paper specifically comments on the responsibilities of participants in terms of managing their handling of confidential and price sensitive information. It also looks at how to manage a situation where some investors have chosen to remain on the public side.

Nick Jansa, LMA director and head of European Loans and High Yield at Deutsche Bank, said: “There have been a great many requests for amendments and waivers over recent months and it seems likely that this trend will continue for some time. This paper is very timely and will provide guidance for all market participants on how to manage the process more effectively.”

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

3w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha