Who Needs to Know -
Lenders and potential borrowers considering making loans or borrowing under the MSLP.
Why It Matters -
In the month of September, the Federal Reserve Bank of Boston (Boston Fed) released...more
9/30/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
EBITDA ,
Eligibility ,
Federal Reserve ,
Financial Institutions ,
Lenders ,
Loan Origination Funds ,
Main Street Lending Programs ,
Nonprofits ,
Special Purpose Vehicles
MSLP Facilities for For-Profit Businesses -
Since mid-July, the Boston Fed has updated the business MSLP FAQs twice (releases on July 15 and July 31) with additional details and clarifications. Significant changes and...more
On June 15, the Federal Reserve Board released proposed term sheets to expand the Main Street Lending Program to nonprofit entities in sound financial condition before the onset of the COVID-19 pandemic. The announcement...more
On, June 8, the Federal Reserve Bank of Boston (Boston Fed) announced additional revisions to the Main Street Lending Program (MSLP) in advance of the program’s impending launch. ...more
On Wednesday, May 27, the Federal Reserve Bank of Boston (Boston Fed) released additional information on the Main Street Lending Program (MSLP), which includes the form of the participation agreement governing the...more
Main Street Lending Program Structure Who Is an Eligible Borrower Under the Main Street Lending Program? What Are the Terms of Eligible Loans Under the Main Street Lending Program? What Are the Other Requirements and...more
On April 30, after processing more than 2,200 comment letters to its initial term sheets, the Federal Reserve Board announced new terms that expand the scope and eligibility for the Main Street Lending Program (the Program)...more
In a very short period of time, private equity groups and their portfolio companies have had to deal with an unprecedented amount of change in response to the novel coronavirus (COVID-19) crisis....more
On April 9, the Federal Reserve released term sheets for its widely anticipated Main Street Lending Program to ensure credit flows to small and mid-sized businesses in the United States with up to 10,000 employees or no more...more
Until recently, the structuring of debt facilities for U.S. borrowers with foreign subsidiaries has been largely driven by IRS interpretations of section 956 of the Internal Revenue Code, which gave rise to significant tax...more
5/8/2019
/ C-Corporation ,
Controlled Foreign Corporations ,
Corporate Taxes ,
Credit Facilities ,
Creditors ,
Dividends ,
IRS ,
New Rules ,
Proposed Regulation ,
Section 956 ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning
Starting in 2019, public companies will need to adopt the new lease accounting rules set forth in the new Financial Accounting Standards Board (FASB) standard ASC 842 (Leases).
Originally published in Law360 - January 16,...more
At this point, private equity firms are very conscious that debt of their U.S. acquisition vehicles or portfolio companies cannot be guaranteed by controlled foreign corporations (CFCs), nor can more than 65 percent of the...more