Representing Co-Lenders in Syndicated Credit Facilities
Consent Rights, Sacred Rights, Waterfall and Pro-Rata Sharing Provisions, Removal and Addition of Co-Lenders
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will examine syndicated loans from the co-lender's perspective. The panel will discuss deal points of particular concern to co-lenders, including trends in negative covenants and collateral leakage, voting rights, waterfall and pro-rata sharing provisions, intercreditor arrangements and regulatory concerns for banks and other regulated entities.
- Negative Covenants: The role of precedent; sponsor-friendly provisions; collateral leakage concerns
- Voting Rights: Key issues and trends in recent cases
- Waterfall and pro-rata sharing provisions
- Intercreditor arrangements
- Regulatory and compliance concerns for co-lenders
- Special issues for letter of credit issuers
The panel will review these and other vital questions:
- What loan provisions might be considered deal breakers for a co-lender looking to invest in a syndicated credit?
- How can a lender with a minority position in a syndicated loan be adversely affected if the loan goes into default or bankruptcy?
- How might waterfall and pro-rata sharing provisions adversely affect the co-lender?
Patricia (Pat) Christ
Assistant General Counsel, Senior Vice President
Bank of America
Ms. Christ is Assistant General Counsel, Senior Vice President at Bank of America, NA.| Read More
Ms. Christ is Assistant General Counsel, Senior Vice President at Bank of America, NA.Close
Bobbi Acord Noland
Parker Hudson Rainer & Dobbs
As head of the Commercial Finance practice, Ms. Noland guides global banks, regional banks and finance companies... | Read More
As head of the Commercial Finance practice, Ms. Noland guides global banks, regional banks and finance companies through domestic and cross-border transactions ranging from $5 million to more than $1 billion. She has handled practically every aspect of commercial lending, from single-lender deals to syndicated facilities involving multiple lenders, borrowers, creditors and multi-tiered debt tranches. In addition, Ms. Noland frequently advises her clients on workouts and restructurings.Close