Here's a look at what we're reading outside the four corners of fund finance.
In recent weeks, a number of transactions have come across our desks involving levered feeders set up as an investment vehicle for insurance-related investors. For regulatory reasons, these vehicles are established such that each such investor’s commitment is comprised of both a loan commitment (the “Debt Commitment”) and an equity commitment (the “Equity Commitment”). This structure presents a challenge for lenders trying to balance the requested borrowing base treatment for investor commitments of this type against the potential bankruptcy implications that this structure poses.
This is the final installment in our Subscription Finance Loan Agreement Series: a look at the documentary and other conditions that lenders will need to see completed before any utilisations under facilities can be made.
We’re proud to see Samantha Hutchinson recognized on The Lawyer Hot 100 list of innovative lawyers shaping the legal profession.
When a promissory note is lost, the obligation to repay a loan continues, and the lender may “re-establish” the note so long as it has not sold or transferred the note, writes our colleague Susan Vuernick.
The Fund Finance Association this week sent two e-mail blasts in preparation for the 10th Annual Fund Finance Symposium.
Much of the thought in the LIBOR phase-out process has been on drafting contract terms that identify an agreed-upon replacement benchmark and then effecting the transition. One aspect that has received less attention is the necessary margin adjustment that should accompany a change in the benchmark.
This has been a sad week. Kobe and his daughter Gianna passing has hit me hard, like it has for most all of us. I’ve several times found myself in public with moist eyes simply from seeing the Facebook post with Kobe’s arm around Gianna at a Lakers game.
Commonwealth Bank of Australia is seeking a seasoned Fund Finance banker as a Director in its Financial Institutions Group in New York.
Here are updates to our Fund Finance Calendar.