International Lending Transactions

This subject has the following teaching availabilities in 2011:

This subject involves the study and analysis of the key provisions of cross border lending documentation, including large syndicated credit agreements and other forms of lending such as the repo market and securities lending. Emphasis will be placed on understanding the purposes and variations of key provisions and all aspects of the documentation of a loan transaction from the term sheet through closing.

Students will focus on anticipating potential concerns and tensions in the negotiation process and will have the chance to review and study all the agreements and documents such as the loan agreement, and other ancillary documents, schedules and deliveries that they will encounter in practice. In addition, students will also study how repo and securities lending are documented, focusing on understanding the Global Master Repurchase Agreement and the Global Master Securities Lending Agreement.

A student who has successfully completed this subject should:

• Understand the structure and key elements of cross border lending and documentation
• Negotiate and understand lending documentation, including the key representations, covenants and events of default found in market standard documentation
• Understand key provisions such as the syndication and administrative agent clauses
• Recognise the key elements of New York/English guarantees
• Compare the advantages of the various interbank money markets
• Understand the special London Interbank Offered Rate (LIBOR) yield protection and breakage clauses
• Understand the key elements of repos and securities lending documentation.

Visit the Melbourne Law Masters website for more information about this subject.

This subject is not available as a breadth subject.