The LMA launches new leveraged loan documentation

Following increasing demand from the leveraged finance community for the standardisation of facility agreements, the Loan Market Association (LMA) has announced the release of its new Leveraged Document for the syndicated loan market. A working party consisting of representatives from banks and major city law firms was established to consider the drafting of the paper and comments were taken from the LMA's institutional investor committee. The LMA hopes the document will follow the success of its 1999 Recommended Forms of Primary Document that was produced for the investment grade market.Tom Ritchie, chairman of the LMA commented that the LMA's primary document has done a great deal to improve efficiency, and is now generally regarded as the market standard throughout the 'Euroloan' region: 'We hope, and expect, that the leveraged document will also become widely accepted, and that it will help with the further development of this growing sector of the market.

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• Topics
• Southern Europe