This market advisory addresses selected elements of new regulations issued by the Department of the Treasury (“Treasury”) that will restrict U.S. outbound investment in countries of concern and provides examples of provisions which members may include, where relevant, in credit agreements and/or security or pledge agreements, as applicable.

The regulations will apply to covered transactions that close on or after January 2, 2025. Although many lending transactions will fall outside the regulations’ scope, certain types of lending transactions will be covered.