Swap Documentation in Real Estate Finance Transactions: Coordinating ISDA Master Agreement and Mortgage Terms
Documenting Covenants, Security, Required Consents, Voting and Control, Reporting, and Regulatory Issues
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will discuss the various uses of swaps and other derivative products to hedge risk in real estate finance transactions, integrate derivatives into loan documentation, and document the swap transaction to ensure there is consistency with the loan.
Outline
- Introduction to hedging interest rate risk
- Swap documentation overview
- ISDA master agreement
- Schedule to the ISDA master agreement
- Confirmation
- Credit support annex
- Dodd-Frank regulatory terms
- Coordinating loan documents with the ISDA master agreement
- Securing hedging obligations
- Termination rights
- Complying with anti-tying laws
- Other common documentation pitfalls
- LIBOR phaseout: update
- Timing of transition away from LIBOR
- Overview of USD LIBOR replacement (SOFR)
- Model fallback terms
Benefits
The panel will review these and other key issues:
- Current market trends for using derivatives to hedge risk in real estate loan transactions
- Best practices for integrating derivatives into loan documentation
- How to prepare for the LIBOR phaseout in both swap and loan documentation
Faculty
Alexander P. Fraser
Partner
Michael Best & Friedrich
Mr. Fraser serves as primary outside counsel to national, regional, and community banks on interest rate swaps, foreign... | Read More
Mr. Fraser serves as primary outside counsel to national, regional, and community banks on interest rate swaps, foreign exchange, commodities, and other derivatives product lines, including documentation for customer transactions and Dodd-Frank Act compliance. In addition, he represents end-users on interest rate swaps, foreign exchange, commodities, and other derivatives transactions and compliance. He also practices in the areas of commercial lending, corporate finance, and mergers and acquisitions. As a lending attorney, he has represented financial institutions and borrowers in a broad range of transactions, including: secured and unsecured credit transactions of all sizes and types, loan syndications and participations, leveraged buyout financings, reorganizations and workouts and correspondent banking transactions.
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Cheryl L. Isaac
Partner
Michael Best & Friedrich
Ms. Isaac represents financial institutions, energy companies, and commodity trading firms (including both end-users... | Read More
Ms. Isaac represents financial institutions, energy companies, and commodity trading firms (including both end-users and swap dealers) on a variety of derivatives transactions, and drafts documentation for interest rate swaps, foreign exchange, commodities, and other derivatives product lines. She assists clients on compliance with Title VII of the Dodd-Frank Act and all related regulations. She has extensive experience advising clients on a range of derivatives and banking-related regulatory issues such as cross-border trading, federal deposit insurance, capital and margin requirements, and swap dealer registration.
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