Global Leveraged Finance partners Michael Bellucci and Jerome McCluskey presented “Understanding the Credit Agreement” during the Loan Syndications and Trading Association’s (LSTA) Summer Series, held from July 13-28, 2021. Mr. Bellucci and Mr. McCluskey’s virtual presentation was based on The LSTA’s Complete Credit Agreement Guide (Second Edition), which they co-authored, and their presentation drew an incredible 750+ unique viewers.
On the first day, they covered the basics of the typical credit agreement, including the different types of credit facilities, the mechanics of the payment of interest and fees, the LIBOR transition, and a discussion of buybacks, scheduled repayments and voluntary and mandatory prepayments. On the second day, they explained provisions dealing with the administrative agent, voting by the lenders and assignments and participations – which are important for those involved in the secondary trading of loans. Over the final two days, they covered the nuts and bolts of representations, covenants and events of default.
The LSTA’s Complete Credit Agreement Guide, Second Edition is a comprehensively updated guide focused on navigating the global syndicated loan market and its underlying credit agreements.
The LSTA has been the industry’s premier platform for all participants in the rapidly evolving syndicated lending market. Please click here for more information on the LSTA University Summer Series and for links to recordings of the presentations.
