Loan total return swaps are bespoke derivative products that are used widely by market participants seeking leveraged access to the commercial loan asset class. Because LTRS transactions lay at the intersection of the derivatives and loan markets, market participants considering LTRS as an investment tool should be familiar with both the federal regulation of swaps, as well as market conventions and operational issues inherent to holding and trading loans. Presented by John A. Clark, Senior Counsel; Jennifer K. Grady, Partner; and Richard J. Lee, Partner, all from Crowell & Moring LLP. Registration now open to LSTA Members.

The financing landscape has undergone significant transformation in today's evolving market, driven by market conditions, regulatory changes, and the need for innovative capital solutions. While still prevalent, traditional financing methods often lack the flexibility required to navigate today's complex economic environment. Hybrid capital has emerged as a versatile tool, offering a blend of debt and equity characteristics that provide companies with enhanced opportunities and flexibility. These instruments allow firms to optimize their capital structure, manage costs effectively, and meet regulatory requirements without over-leveraging. Members joined us to discuss the latest developments. Presented by Stelios G. Saffos, Partner and Peter J. Sluka, Partner, both from Latham & Watkins LLP . Presentation and replay are now available to LSTA Members.

About half of the states have now adopted the 2022 amendments to the Uniform Commercial Code. The presenters, who served on the drafting committee for the amendments, discussed several practical points that might “slip through the cracks” on what practitioners should now be considering. Presented by Edwin Smith, Partner at Morgan Lewis and Steven Weise, Partner at Proskauer Rose. Presentation & replay now available for LSTA Members.

Robert Collins and Josh Deringer introduced the nontraded closed-end fund structure.  They described the legal and operational considerations when determining to structure a tender offer fund or an interval fund. They also discussed the appropriate strategies for these fund structures, the distribution channels and investor suitability considerations, and other operational considerations. Rob and Josh also discussed leverage limitations and considerations with NAV lines and other types of borrowings these funds engage in, as well as considerations in structuring credit investments by these funds. Presentation and replay now available for LSTA Members.

This webinar will discuss how recent Supreme Court rulings continue to rebalance power among the courts, the administrative state and Congress and affect how executive branch and independent agencies engage in rulemaking, issue guidance and engage in enforcement. Panelists will review the various legal themes that emerged from Loper Bright, Jarkesy, Corner Post and other Supreme Court decisions and discuss their implications and key takeaways. Presented by Elliot Ganz, Head of Advocacy, LSTA, David Portilla, Partner, Davis Polk & Wardwell LLP and Margaret Tahyer, Partner, Davis Polk & Wardwell LLP. Presentation now available to download.

The Supreme Court Rules in Purdue: What are the Implications For Third Party Releases in Corporate Restructurings? Presented by Philip Anker, Partner and Co-Chair of Bankruptcy and Restructuring, WilmerHale, Elliot Ganz, Head of Advocacy, LSTA, Moderator, Craig Goldblatt, Judge, U.S. Bankruptcy Court and Dan Kamensky, Founder, Creditor Rights Coalition. Replay now available for LSTA Members.

This webinar provided an overview of legal and financial considerations that surround international investment in, and related lending to, Ukraine funds in 2024, with a focus on the energy and infrastructure sectors.  Discussion topics included the role of international financial institutions in the facilitation of international investment into Ukraine projects, political risk insurance, regulatory considerations, and deal documentation under relevant laws. Presented by Jonathan Cardenas, Chair, Emerging Europe Private Equity & Venture Capital Taskforce, American Bar Association Business Law Business Law Section (Miami, FL) - Moderator, Kaarli H. Eichhorn, Partner, Jones Day LLP (Brussels, Belgium), Rear Admiral (Ret.) Michael Hewitt, U.S. Navy, Co-Founder and Chief Executive Officer, IP3 Corporation (Washington, D.C.), Igor Krasovskiy, Partner, Head of Banking and Finance Practice, Integrites (Kiev, Ukraine), Jon Queen, Chief Executive Officer, Berezan Port Limited (Denver, CO), Svitlana Samko, Principal Banker, Sustainable Infrastructure Group, European Bank for Reconstruction & Development (London, UK), Gary Shu, Senior Advisor for Ukraine Energy, U.S. Agency for International Development (Washington, D.C.), Andrii Tsokol, Associate Director, Sustainable Infrastructure Group, European Bank for Reconstruction & Development (Warsaw, Poland), Sandra J. Vrejan, Partner, Morgan, Lewis & Bockius LLP (Boston, MA). Presentation & replay now available for LSTA Members.

Market forces since the financial crisis have contributed to the exponential growth of private credit, while market forces in more recent times have driven the burgeoning growth of creative fund finance solutions. Now, the two areas are intersecting in interesting and sometimes unexpected ways. Attendees joined us for a lively, data-driven discussion of the convergence of these two hot areas and the commercial and legal aspects of their impact on one another. Moderated by Tess Virmani, Deputy General Counsel & EVP – Head of Policy, LSTA. Presented by Smitha Balasubramanian, Managing Director, Lincoln International LLC, Bryan Fischer, Managing Director, Crestline Investors, Inc., Elliot Ganz, Head of Advocacy, LSTA, David Solow, Partner, Global Finance, Sidley Austin LLP, Annie Wallis, Partner, Global Finance, Sidley Austin LLP and Jasen Yang, Managing Director, Credit, Apollo Global Management, Inc. Presentation now available to download.