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What determines borrower-MLA relationships?
Lead arrangers develop a relationship with borrowers, originate the facilities, negotiate terms, underwrite the financing, and arrange and lead the syndication of the facilities. ...
What credit ratios are used in asset-based lending?
In asset-based lending, it is critical that the income generating capacity of the asset serving as collateral is carefully analyze and fully understand. For example, the loan-to-v...
Upfront fees are the one-off fees paid by borrowers to mandated lead arrangers on the total commitment amount for arranging and originating the financing, structuring the syndicate...
What are underwriting spreads?
In an underwritten deal, the lead arranger retains some amount of the underwriting fee as compensation for its services and uses the rest either as sub-underwriter or closing fees....
A tranche is a distinct part of a financing transaction with its own terms, as defined in the common financing agreement. Leveraged facility agreements commonly comprise multiple...
What are trade and nontrade receivables?
Trade receivables are amounts owed by customers for goods and services sold in the course of a firm’s ordinary business (trading) activities, including all accounts receivable and...
What are the syndicate titles?
The lead arranger assigns syndicate roles and titles. Sub-underwriters and participant lenders are generally awarded titles based on the amount of their commitment and in the phas...
What are the standard REF facility documents?
The Loan Market Association (LMA) issued in 2012 the Single Currency Term Facility Agreement for Real Estate Finance Multiproperty Investment Transactions ("REF Document") used in...
What are the parties to real estate finance?
The roles of the arrangers, lenders and agents are essentially the same in LMA REF facility agreements as in the LMA Primary Document. The roles of the security agent and hedge co...
What are the methods of asset depreciation?
A method of calculating, allocating and expensing the cost of an asset such that the asset will lose an equal amount of value each year of its useful life is straight-line deprecia...
