Banking and Finance Academy
United Kingdom | Publication | December 2022
The Banking and Finance Academy is designed for our junior finance lawyers and those of our banking clients interested in a greater understanding of LMA style facility agreements and associated key debt finance legal topics. A summary of the course, which is held in our London office at least twice a year, is set out below. Our next course will be held in person from 16 - 19 October 2023.
Term sheets and facility types
A recap of the different types of loan facilities, a discussion of the purpose of term sheets generally, looking at the LMA precedent term sheet, an exercise reviewing a draft term sheet.
Overview of LMA style loan agreement
Considering the basic architecture of a syndicated loan agreement by reference to a Loan Market Association style document; understanding the multitude of contractual relationships and the purpose of key provisions.
Representations, undertakings and events of default
A discussion of the purpose of representations, undertakings and events of default in loan agreements, how the provisions work together, and the key LMA investment grade clauses. Exercises are included reviewing the representations section of a loan agreement and some of the key undertakings and events of default, focusing on how these sections may be drafted and negotiated in practice.
Loan agreement negotiation exercise
A three way negotiation exercise requiring review of a facility agreement and analysis of comments received for the borrower, agent and syndicate lender.
Syndicated facilities and loan transfers
A discussion of how a syndicated facility agreement is documented, the key parties, their roles and duties, and the methods in English law of transferring loan participations.
Introduction to debt capital markets and derivatives
An introduction to capital markets issues and hedging.
Tax for finance transactions
A discussion of the tax provisions commonly provided for in loan agreements.
Introduction to Sustainable finance
An introduction to the main sustainable finance products and regulatory standards, as well as considerations in structuring these transactions.
To register for the Banking Academy, please email Client Training:
Resources to help you prepare
The Consumer Duty: What should firms be doing now?
In the latest of our ‘New Consumer Duty Series’, members of our Financial Services and Risk Advisory teams will share their insights on the key actions firms should already have under way, and those which are to come as part of their preparations for July 2023.
The FCA’s latest consultation on the new Consumer Duty
CP21/36 follows Consultation Paper 21/13: A new Consumer Duty (“CP21/13”) which the FCA published in May . In CP21/13 the FCA set out a package of proposals for a proposed new ‘Consumer Duty’ that the FCA expects will drive a change in culture in firms.
Norton Rose Fulbright advises MANN+HUMMEL on carve-out and sale of its high-performance plastics business to Mutares
Global law firm Norton Rose Fulbright has advised MANN+HUMMEL Group on the proposed carve-out and sale of its high-performance plastics business to private equity firm Mutares SE & Co. KGaA. In line with its vision of 'leadership in filtration', MANN+HUMMEL will focus on its global filtration and separation solutions business.
Bridging the valuation gap in times of uncertainty
Rising interest rates, long-lasting inflation, supply chain uncertainty, regulatory changes, pressure for business transformation, geopolitical instability, economists predicting a global recession – dealmakers are increasingly confronted with extremely challenging conditions that affect their M&A-roadmaps.