Going, Going, Gone!

Read this practice note discussing recent market trends in competitive bid loan provisions. A competitive bid loan is a feature that can be added to a credit agreement to provide additional pricing flexibility for investment grade borrowers. Competitive bid loans allow the borrower to solicit bids from its lenders to provide loans on maturities and interest rates different than those applicable to the revolving loans already available under an existing credit facility.

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Related Content

• Tranches of Loans and Loan Mechanics in Credit Agreements
  Read this practice note describing the types of loans available to a borrower, whether as a revolving line of credit or one term draw-down, and the process by which the borrower requests that funds are made available to it under a credit facility.

• Competitive Bid Loan Promissory Note (Credit Agreement)
  Use this competitive bid loan promissory note in connection with an investment grade credit agreement that includes a competitive bid loan facility.

• Structuring a Financing Transaction
  Review this practice note providing a general overview of how a financing is structured. The note discusses the reasons a financing is entered into and how those reasons drive the components of a financing, such as the parties to the transaction, the types of facilities (whether it includes term, revolving, swingline, or letter of credit facilities), the priority of the loans compared with other sources of financing, and the collateral package, if any.

Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.

• Market Standards—Finance
• Asset Sale Process Map
• Acquisition Process Map
• Transaction Financing Process Map
• Incremental Facility Process Map
• Amendment and Restatement Agreement (Credit Agreement)
• Demand for Standby Letter of Credit (Extend or Pay)
• Market Trends 2022/23: Defaulting Lender and “Yank-a-Bank” Provisions
• Bank Failure Resource Kit assembles Practical Guidance resources covering topics related to the recent bank failures.

• Read the new edition of the Practical Guidance Journal featuring guidance for borrowers and sponsors entering into private credit loans with non-bank lenders. Also learn about sustainability-linked bonds and loans through a new video series.

• Listen Up! The Practical Guidance and Law360 Podcasts Resource Kit features interviews with industry-leading attorneys on cutting edge issues in the law: NFTs, Cannabis, COVID-19 and more.
• Legal Developments provide the latest updates and analyses of emerging topics impacting your practice area. Visit the Legal Developments page to see the latest topics, which also include breaking legal news and related Practical Guidance content.
• Check out our Practical Guidance Author Center! Learn about the 1750+ leading attorney authors contributing to our 26 practice areas, and find out how you can Become a Practical Guidance Author. Practical Guidance is committed to amplifying diverse voices of attorneys across all differences, including gender and race.  
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