Women in Fund Finance (WFF) this week hosted a second installment of its “Fund Liquidity Solutions” virtual event, which was a follow-up to the first liquidity solutions panel that took place in July. This second panel...more
Last week, the Loan Syndications and Trading Association (the “LSTA”) circulated a revised draft of its Form of Revolving Credit Facility to its members....more
The market has received a lot of answers about benchmark replacement this year. We know for sure that LIBOR is going away. We also know that no new USD LIBOR loans should be originated after December 31st of this year....more
In the last week we have had a very big development in the LIBOR transition: The ARRC has now formally recommended forward-looking Secured Overnight Financing Rate (SOFR) term rates. This is big news for your fund finance...more
In last week’s edition of FFF, we discussed the Revlon case involving an erroneous payment by an administrative agent to the syndicate lenders, which is currently up on appeal before the Second Circuit Court of Appeals....more
7/23/2021
/ Borrowers ,
Contract Terms ,
Credit Agreements ,
Financial Services Industry ,
Financial Transactions ,
Investment Funds ,
Lenders ,
Loan Agreements ,
Loan Repayment Issues ,
Loan Syndication and Trading Association (LSTA) ,
Revlon ,
Syndicated Loans
Women in Fund Finance this week hosted “Fund Liquidity Solutions,” a virtual event that looked at some of the most innovative liquidity structuring and solutions being employed across the private markets. ...more
Summary of Case -
On August 11, 2020, the administrative agent in a loan to Revlon intended to make an interest payment to the lender syndicate and instead mistakenly wired almost $900 million of its own money to the...more
7/16/2021
/ Agents ,
Borrowers ,
Consumer Financial Products ,
Creditors ,
Interest Payments ,
Loan Agreements ,
Loan Syndication and Trading Association (LSTA) ,
Loans ,
Overpayment ,
Revlon ,
Syndicated Loans ,
Wire Transfers
We have been talking about the LIBOR transition a lot lately, whether here in FFF, amending deals to contemplate the benchmark transition or working with our clients to determine the best way to address the move away from...more
This week, Women in Fund Finance Global hosted a two-day virtual event covering all aspects of SPACs.
Day One covered “What Is Going On in the SPAC Market?” ...more
March was a big month for the LIBOR endgame. There were several big announcements, some important (but technical) developments, and new deadlines. Simply put, the March developments matter to the fund finance community...more