Practical Law provides legal know-how that gives lawyers a better starting point. Our expert team of attorney editors creates and maintains thousands of up-to-date, practical resources across all major practice areas. We go beyond primary law and traditional legal research to give you the resources needed to answer your “how do I” questions and proceed with confidence. If you are not currently a subscriber, we invite you to take a trial of our online services at legalsolutions.com/practical-law.
Level 1
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Practical Law - Glossary of Blockchain Terms (2023)
A PDF glossary of blockchain terms brought to you by Practical Law and the LSTA.
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Practical Law - Finance Fundamentals: Subscription Facilities vs NAV Facilities *New*
A Practice Note discussing the differences between subscription facilities and NAV facilities, two common types of fund finance transactions. This Note examines the key characteristics of each type of facility, including structure and collateral, and discusses certain issues in the fund finance market.
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Practical Law – Direct Lending: Overview
A Practice Note providing an overview of the direct lending market, an important and relatively young segment of the US corporate loan market. This Note examines the key characteristics of the direct lending market, including market participants, deal structures, and loan agreement terms, and how direct lending differs from the broadly syndicated loan market.
Level 2
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Practical Law - What's Market: SOFR Interest Rate Provisions *New*
A Practice Note discussing the SOFR interest rate, including Term SOFR and Daily Simple SOFR, together with related fallback language and credit spread adjustments. This Note includes links to large corporate and middle market deals summarized in What’s Market. Examples of recent credit agreements will be added semi-annually.
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Practical Law - Intercreditor Agreement Between First and Second Lien Lenders: Overview
A Note describing the issues that separate groups of first and second lien lenders must typically address where their loans are secured by shared collateral, and describing the principal characteristics of the intercreditor agreement in which these matters are documented.
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Practical Law - Expert Q&A on Current Issues with Intercreditor Agreements
An expert Q&A with Brian K. Rock of Latham & Watkins LLP on current issues with intercreditor agreements, including a discussion of the recently published updated multi-series ABA/LSTA Form of First Lien/Second Lien Intercreditor Agreement.
Level 3
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Practical Law - Finance Fundamentals Liability Management Transactions
An overview of liability management transactions, including drop-down financings and uptiering transactions. This Note includes information about the structures, the implicated loan agreement provisions, and loan agreement blocker language.
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Practical Law – Labelling of ESG Funds: the US, UK and EU Approaches
This article discusses proposals in the US, UK and EU focused on how ESG and sustainable investment funds should be labelled and described.
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Practical Law - What’s Market: 2024 Mid-Year Trends in Large Cap and Middle Market Loans
A review of trends in large cap and middle market lending in the first half of 2024. This Note examines some of the significant developments in broadly syndicated loan transactions and direct lending deals.
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Practical Law - What’s Market: 2024 Mid-Year Trends in Large Cap and Middle Market Loans - An Expert's View
Elizabeth Yazgi, from the LSTA, discusses ESG in the private credit space and outlines some of the market’s primary challenges.
