Make sure you are appropriately drafting for interlender issues in the syndicated loan transaction.
Legal counsel representing both borrowers and lenders are frequently asked to draft, for review, the central credit document for the syndicated loan transaction. While there are valuable precedents available, and a significant move toward standardized documentation, the preparation or review of credit agreements is fraught with issues and risks that need to be understood, tailored to the transaction, and appropriately drafted for. This topic will equip the lawyer acting in this capacity to properly identify the risks specific to the transaction, make informed and reasonable suggestions for change to the structure of the loan transaction, composition and rights of the lending group, and appropriate protections for the borrower when dealing with the syndicated.Learning Objectives
- You will be able to define the roles and responsibilities of the agent, co-lenders and borrower in the syndicated loan transaction.
- You will be able to identify key risks in syndicate structure, participation, and terms, and know how to make comments and recommendations for change.
- You will be able to recognize the business decisions and the legal issues to be discussed, agreed, and documented in the syndicated loan credit agreement.
- You will be able to explain to your client, whether borrower or lender, the benefits and pitfalls of a syndicated transaction and the documentation to be used.
Agenda
- Key Syndication Terms, Documents and Issues
- Role of the Agent(s)
- How to Identify and Consider Interlender Issues in the Syndicated Loan
- Balancing Syndicate Participant’s Rights
- Understanding the Issues That Require Consideration in the Drafting of the Interlender Arrangements and Syndicated Loan Transaction
Speaker(s)
Alessandro BozzelliCassels Brock & Blackwell LLP
- More than 10 years of experience handling significant commercial finance and insolvency matters, representing both borrowers and lenders.
- Developed strong knowledge and experience in a wide range of financing and debt transactions with a particular emphasis on acting for borrowers and lenders in various financing matters including bilateral and syndicated lending, asset-based lending, aviation financings, acquisition financings, franchise financings, cross-border financings, project financings, renewable energy projects, mezzanine financings, inter-creditor arrangements, real estate financings, receivables financing transactions and factoring transactions.
- Frequent lecturer and presenter for various lender, industry and legal associations on topics concerning debt financing and lender’s rights.
- Recognized as a leader in his field by Lexpert, IFLR1000 and Best Lawyers in Canada: Ones to Watch.
Shipman & Goodwin LLP
- Partner at Shipman & Goodwin LLP
- Represents senior and mezzanine lenders, institutional investors, venture capital investors (including SBICs), private equity funds, hedge funds, emerging growth companies, and private companies in financing, investment, leasing, acquisition, corporate, licensing, and restructuring transactions
- Regularly advises clients with respect to structuring, negotiating, and closing complex transactions, also regularly advises clients with respect to distressed investments and the restructuring of existing investments and loans
- Experience includes the representation of senior lenders in complex commercial, asset-based, and acquisition financings; mezzanine lenders and hedge funds; SBICs and venture capital funds; emerging growth companies; hedge fund, buyers, sellers, and sponsors; and institutional investors in direct investments, fund of funds investments, and investments in private equity funds
- Recognized authority on drafting and negotiating intercreditor and subordination agreements on behalf of senior and subordinate lenders and wrote Controlling Your Destiny-Key Issues in Subordination and Intercreditor Agreements, The Secured Lender; he also deals extensively with family-owned businesses and wrote Financing the Family-Owned Business, The Secured Lender
- Lectures frequently on issues relating to commercial and real estate lending, intercreditor issues, venture finance, and venture capital investment
- Achieved the highest rating in the Martindale-Hubbell Law Directory; listed as a Connecticut Super Lawyer® in business/corporate (2006 to 2015) and banking, mergers & acquisitions (2006 to 2009); listed in The Best Lawyers in America® in banking and finance law, equipment finance law (2005 to 2016); named Lawyer of the Year, Best Lawyers’ 2014 Hartford Region banking and finance law; chair (2010 to 2013), Commercial Finance Committee, American Bar Association, Section of Business Law; fellow (1998 to present) and member of the Board of Regents (2005 to 2009), American College of Commercial Finance Lawyers; and Connecticut Bar Foundation James W. Cooper Fellow
- J.D. Degree, New York University School of Law; B.A. Degree, cum laude, Amherst College
Cassels Brock & Blackwell LLP
- More than 15 years of experience handling significant commercial finance and insolvency matters, representing both borrowers and lenders.
- Developed strong knowledge and experience in a wide range of financing and debt transactions with a particular emphasis on acting for borrowers and lenders in various financing matters including bilateral and syndicated lending, asset-based lending, acquisition financings, franchise financings, cross-border financings, project financings, renewable energy projects, mezzanine financings, inter-creditor arrangements, and real estate financings Frequent lecturer on topics concerning lenders and entrepreneurs
- Frequent lecturer and presenter for various lender, industry and legal associations on topics concerning debt financing and lender’s rights.
- Recognized as a leader in his field by The Canadian Legal Lexpert Directory and Best Lawyers in Canada.
Bodner Law PLLC
- More than 30 years of experience handling significant commercial finance and bankruptcy matters
- Esteemed fellow of the American College of Commercial Finance Lawyers and panelist on the American Arbitration Association’s National Roster of Arbitrators
- In-depth experience representing both lenders and borrowers in litigation arising from transactions, and is often called upon to handle interlender disputes
- Represented both agents and co-lenders in syndicate-related disputes
- Litigation experience includes the successful defense of major money center banks in venues across the country related to lender liability, lien priority disputes, fraudulent conveyance, and similar actions
- The ABF Journal, Secured Finance Network, Turnaround Management Association, and other industry-leading publications turn to Jeff for critical insights and articles
- An established writer and blogger, his Wurst Case Scenario, the commercial finance law newsletter, has thousands of followers
- Frequent lecturer on topics concerning lenders and entrepreneurs
