Course outline 

This 1-day course examines the risk and commercial considerations behind the various clauses and conditions in a typical loan agreement. It will provide Participants with a solid understanding of loan agreements, providing a foundation from which to review and negotiate such documents.

What you will learn

  • Overview of Loan Agreements

           ➢ Different types of Loan Agreements (Syndications, Club loans, Bilaterals)
           ➢ Loan Market Association (LMA) Agreements

  • Basic Information on Loan Agreements

           ➢ Details of Lenders
           ➢ Details of Borrower

  • Specific Information

           ➢ Pricing (Margin, Reference Rates)
           ➢ Fees

  • Representation and Warranties

          ➢ Legal Warranties and Commercial Warranties
          ➢ Concept of continuing Representation and Warranties

  • Covenants

          ➢ Different types of covenants
          ➢ Typical financial covenants
          ➢ Typical non-financial covenants

  • Events of Default

          ➢ What are they?
          ➢ Curing periods
          ➢ Cross Default vs Cross Acceleration

  • Conditions Precedent/Subsequent

         ➢ Typical Conditions Precedent (CPs) in a Loan Agreement

  • Jurisdiction/Choice of Law

        ➢ Importance of choosing right jurisdiction and choice of law

  • Preserving a Lender's priority position

         ➢Key covenants used to protect a Lender's position

  • Loan Sell-down

         ➢Different techniques for selling down a loan (Novation, Assignment, Subparticipation)
         ➢Borrower considerations

  • Term Sheets

         ➢ What are they?
         ➢ Main features of Term Sheets

Who should attend?

  • Corporate and Investment Bankers
  • Corporate and Commercial Lawyers
  • Financial Directors/Financial Managers
  • Corporate Treasurers
  • Investor Relations Practitioners

Date :  

  • 3 May 2024
  • 18 October 2024

Time : 09h00 - 16h00
Cost: R8, 500 ex vat per person (discounted rate)
Venue: All trainings are currently virtual and only face-to-face upon request
Facilitator : Frank Vein

Please note that space is limited so please book as soon as possible in order to avoid disappointment.  


By using a service provider to offer the courses, the JSE does not directly or indirectly endorse any product or service provided, or to be provided by the service provider. 


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