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Banking Sector Credit Agreements Financial Services Industry

Cadwalader, Wickersham & Taft LLP

Quarter End Fireworks, June 2025 - Letter of Credit Refresher

Many subscription credit facilities will provide for the issuance of letters of credit in addition to the funding of loans. A letter of credit is an irrevocable undertaking for the payment of money issued by a bank at the...more

Herbert Smith Freehills Kramer

Defaulting Lenders Under Unitranche Facilities

The Loan Syndications and Trading Association (LSTA) defaulting lender provisions were released in 2011 in the aftermath of the 2008 Financial Crisis. Some 12 years later, recent distress in the banking sector has thrust...more

Skadden, Arps, Slate, Meagher & Flom LLP

Unhappy Lenders Challenge Aggressive Debt Exchanges

Takeaways - Loan agreement provisions allowing borrowers to repurchase their loans to take advantage of steep debt discounts and restructure their debt became popular in the wake of the financial crisis. The meaning of some...more

Akin Gump Strauss Hauer & Feld LLP

The Post-Revlon Reaction: Pitfalls for Lenders in the Proposed Erroneous Payment Language

To address the key issue in the litigation In re: Citibank August 11, 2020 Wire Transfers, on March 19, 2021, the Loan Syndication and Trading Association (LSTA) circulated a Market Advisory that contains draft erroneous...more

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