Subjects:

Banking and Finance

Contents:

1 Multi-bank financing: What it is and is not

2 Multi-bank Financing: Who uses it, where and why?

3 Arranging Loan Syndications, Loan Participations, and Sub-participations

4 The Financial Accommodation Facilities Used in Loan Syndications and Loan Participations

5 Legal Relations Between the Parties in a Syndicated Loan

6 Legal Relations Between the Parties in Loan Participations and Sub-participations

7 The Characterisation of the Participation and Sub-participation Agreements

8 The Secondary Market for Syndicated Loans

9 The Agent bank in Loan Syndications and Loan Participations

10 The Regulation of Loan Syndications and the Secondary Market in Syndicated Loans

11 Accounting and Tax Issues

12 Conclusion

This new work provides analysis of the legal and regulatory facets of syndicated loans, secondary loan market practice and other related financial practices. Acknowledging the dynamic growth in the secondary loan market Mugasha covers loan trading, credit derivatives, collateralised debt obligations, loan trading, mezzanine and hybrid debt solutions - all topical issues for structured finance lawyers.

Practices have changed noticeably over recent years and Mugasha addresses new legal issues that have arisen. Firstly, there are new methods of conducting business, through electronic trading platforms, the internet and a wide range of information providers (Capital Data, LoanWare and rating agencies). Secondly, regulatory aspects have evolved and initiatives like Basel II and the Equator Principles 2003, and are examined, as are the roles of significant players such as the Loan Syndications and Trading Association and the Loan Market Association.

• Complete analysis of all forms of multi-sourced financing, including non-mainstream multi-sourced financing practices
• Detailed coverage of the main transaction documents
• Inclusion of Commonwealth caselaw where relevant
• Written in clear and practical terms