July 16, 2021 - By Bridget Marsh. LSTA University’s first annual “Summer Series” kicked off this week with three of our seven sessions that drew more than 2000 attendees. Tuesday’s Loan Market Overview, presented by Refinitiv’s Head of Market Analysis, Ioana Barza, caught us up to speed on 35 years’ worth of our market’s evolution. The first half of “Understanding the Credit Agreement” — a 4 day event presented by partners at Milbank and authors of the  textbook, the “LSTA’s Complete Credit Agreement Guide”, Michael Bellucci and Jerome McCluskey, covered the basics of the typical credit agreement, including the different types of credit facilities, the mechanics of the payment of interest and fees, and the LIBOR transition.  They concluded the first session with a discussion of buybacks,   scheduled repayments, and voluntary and mandatory prepayments.  On the second day, the presenters explained  provisions dealing with the administrative agent, voting by the lenders, and assignments and participations which are important for those involved in the secondary trading of loans. The nuts and bolts of representations, covenants, and events of default are just some of the topics to be covered next week. Click here to register for the remaining sessions of the LSTA’s Summer Series.