Swaps in Loan Transactions: Coordinating Loan Document Terms With the ISDA Master Agreement

Documenting Covenants, Security, Voting and Control, Reporting, and Regulatory Issues

Recording of a 90-minute CLE webinar with Q&A


Conducted on Wednesday, January 24, 2018

Recorded event now available

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Program Materials

This CLE webinar will discuss the various uses of swaps and other derivative products to hedge risk in loan transactions, how derivatives are integrated into loan documentation, and how to document the swap transaction to ensure consistency with the loan.

Description

Two key risks commonly hedged in loan agreements are interest rate and currency risks. Swap transactions are generally governed by ISDA standard derivatives documentation including the ISDA Master Agreement, the Schedule thereto and a Confirmation, which together establish the relationship between borrower and swap provider and the economic terms of the hedging transaction.

Counsel plays a critical role in integrating swap transaction terms into loan covenants, including cross-default, cross-collateral, prepayment, assignment, release and enforcement provisions.

Listen as our authoritative panel of finance practitioners guides you through the use of swaps to hedge risk in loan transactions and best practices for coordinating the swap and loan documents.

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Outline

  1. Use of derivatives to hedge risk in loan transactions
    1. ISDA document architecture
    2. Regulatory overview
  2. Integration of derivatives into loan documentation and coordination with derivative documentation
    1. Covenants
    2. Security—cross-collateralization
    3. Security—liquidation priority and collateral release
    4. Cross-default and remedies
    5. Voting and control
    6. Prepayment
    7. Assignment
    8. Termination and enforcement
    9. Ancillary loan documents

Benefits

The panel will review these and other key issues:

  • Current market trends for use of derivatives to hedge risk in loan transactions
  • Best practices for integrating derivatives into loan documentation
  • Best practices for coordinating loan documentation with derivative documentation

Faculty

Aaron, Cheryl
Cheryl I. Aaron

Senior Counsel
Michael Best & Friedrich

Ms. Aaron represents financial institutions, energy companies, and commodity trading firms (including both end-users...  |  Read More

Fraser, Alexander
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

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