Managing Sovereign Immunity Risk on a Transaction – What Commercial Parties Need to Know
State involvement in commercial transactions continues to increase and remains an area of distinct legal risk for commercial parties.
Legal Update Archive
LEGAL UPDATES
Subscription Credit Facilities: Temporary Increase Tranches
As the subscription credit facility market continues to evolve, temporary increase tranches have become increasingly common because they...
US Collateral Account Best Practices
A key component of the collateral package for subscription-backed credit facilities (each, a “Facility”) is the security interest...
Covered Transactions and Considerations in Fund Finance
Section 23A and Super 23A can create additional complications for lenders in the fund finance market. Intended to...
US Banking Regulators Finalize Nonbank Lending Reporting Requirements
On May 22, 2024, the US federal banking regulators finalized a new set of reporting requirements for bank loans and...
Subscription Finance: Fraud as an Exclusion Event
In the evolving landscape of the subscription credit facility market, the introduction of fraud allegations by an investor...
CRD6: Implications for US Fund Finance Lenders
The European Union’s new Capital Requirements Directive 6 (CRD6) introduces significant regulatory changes for non-EU banks operating within...
Implications of an Early Extension of a 364-day Credit Facility
Because banks receive favorable capital treatment when a credit facility’s tenor is shorter than one year, lenders increasingly...
The Use of Rated Notes by Alternative Asset Funds
Due to their long-term investment horizons, US insurance companies historically have been significant investors in alternative assets such...
Subscription Credit Facilities: Considerations for Addressing Recallable Capital
Recallable capital has become an increasingly common concept in subscription credit facilities. In this Legal Update, we explain...