Anti-hoarding provisions limit a borrower’s ability to stockpile cash under its revolving line of credit to shore up liquidity in the event of an economic downturn in the oil and gas market. While the use of these provisions has declined in recent years,...
Lenders typically require an opinion from borrower’s counsel in connection with a financing transaction. Review this resource kit for an overview of the process of drafting and delivering legal opinions. It provides materials on opinion practice, including...
We’ve got you covered. Check out this practice note providing an overview of refinancing amendment provisions in publicly filed credit agreements from 2021. Refinancing amendment provisions allow a borrower to refinance all or a portion of its outstanding...
Read this article discussing trends in benchmark succession clauses in recent credit agreements using benchmark rates other than LIBOR. Despite the shift away from LIBOR and the critical importance of benchmark replacement setting clauses, benchmark succession...
Working on a cross-border or international project? Add this practice note to your global project finance toolbox. It provides an overview of political risk insurance, including its historical development, current providers in international markets, standard coverage...
Are you overwhelmed at the idea of drafting a bilateral loan and security agreement? Don’t be! Refer to this template for an up-to-date loan and security agreement, which provides for both revolving and term loans. This template provides drafting notes and...
It’s a New Year! You have new clients calling. You are working with new associates. Make sure everyone is aligned on the basics of financing transactions by reviewing this resource kit. It provides information on all aspects of the financing, from the negotiation...
Don’t miss out reading this article discussing credit spread adjustments related to the differential in rates between LIBOR and SOFR. While LIBOR and SOFR historically trend together, LIBOR is generally higher than SOFR. Due to the difference in these rates...
Know who your client is lending to! Review this practice note, which discusses third party credit rating agencies and the credit ratings issued by those credit rating agencies. Credit ratings are assessments by the credit rating agencies of an entity’s creditworthiness...
The year is coming to an end and LIBOR is retiring. As you work on new deals in 2022, make sure you are up to speed on replacing LIBOR as the benchmark interest rate in loan documents. Review this resource kit to make sure you understand the impact of this on your...
Your lender client just called you and notified you that its borrower is on the verge of a default under its credit agreement. Review this resource kit to make sure you are up to speed on the types of defaults and standard grace periods to correct a default and...
2021 is coming to a close! As we move towards 2022, make sure you are on track for closing all of those deals. Review this practice note for an overview of the closing and post-closing process, including the individual documents and deliverables due at closing...
Review this market trend practice note for an overview of covenant-lite loans in today’s market. This practice note discusses recent market trends in publicly filed covenant-lite credit agreements since the last quarter of 2020. The term covenant-lite broadly...
Are you prepared for the transition of LIBOR? Watch this video to understand the change to LIBOR in credit agreements. This video showcases the background and provides an overview of replacing LIBOR as the benchmark interest rate in loan documents. WATCH NOW...
Learn something new about guaranties! This resource kit provides an overview of guaranties, including information on formation of guaranties, types of guaranties and enforceability issues. READ NOW » Related Content Enforceability and Types of Guaranties...