Significant Developments in Acquisition Finance: What You Need to Know in 2015
Overview:
In March 2013, the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued updated Leveraged Lending Guidance for the financial institutions. The Guidance could change the way acquisition financings are arranged and under-written. Specifically, the guidance addresses covenant-lite loans and loans to entities with leverage multiples above 6 times their earnings or those which cannot reasonably be re-paid from cash flows.
In this two hour live webcast, a panel of key thought leaders and professionals organized by The Knowledge Group will provide a discussion of the Significant Developments in Acquisition Finance.
This CLE webinar will provide guidance, to counsel for private equity sponsors, strategic buyers and financing sources, on minimizing the financial and legal risks of evaluating and designing acquisition financing and developing strategies for loan documentation and inter-creditor issues.
Key topics include:
- Acquisition Finance – An Introduction
- The Revised Leveraged Lending Guidance
- Participants in the Leveraged Lending Space
- Leveraged Lending by Alternative Capital Sources (including related products)
- Trends in Acquisition Financing – Commitment Papers
- ‘SunGard’ Protection
- Limited representations; solvency representation
- Flex Provisions
- Disqualified Assignees
- Interaction between the acquisition agreement and the commitment papers:
- Financing conditions,
- Financing representations and covenants of parties to the acquisition agreement
- Related lender protections.
- Evolution in Credit Agreement Provisions
- Covenant Lite
- Flexibility in the execution of debt capital structures
- Equity Cures
- Evolution in Credit Agreement Provisions
- Loan buybacks and ability of affiliates to be lenders
- EBITDA calculations
- Starter and builder baskets
- Amend and extend provisions
- Refinancing facilities
- Intercreditor issues
Agenda:
Pepper Hamilton LLP
- Acquisition Finance – An Introduction
- The Revised Leveraged Lending Guidance
- Participants in the Leveraged Lending Space
- Leveraged Lending by Alternative Capital Sources (including related products
- Interaction between the acquisition agreement and the commitment papers:
- financing conditions,
- financing representations and covenants of parties to the acquisition agreement
- related lender protections.
- Evolution in Credit Agreement Provisions
- Covenant Lite
- Flexibility in the execution of debt capital structures
- Equity Cures
Mayer Brown LLP
- Trends in Acquisition Financing - Commitment Papers
- 'SunGard' Protection
- Limited representations; solvency representation
- Flex Provisions
- Disqualified Assignees
- Evolution in Credit Agreement Provisions
- Loan buybacks and ability of affiliates to be lenders
- EBITDA calculations
- Starter and builder baskets
- Amend and extend provisions
- Refinancing facilities
- Intercreditor issues
Who Should Attend:
- Finance Lawyers
- Finance Executives and Directors
- Financial Industry Analysts and Consultants
- Acquisition Finance Professionals
- Non-Bank Financial Institutions
- Lending/Loan Officers
- Compliance Officers
- CFOs
- Private and Public Companies
- Other Related/Interested Professionals and Organizations
Paul W. Hespel is a partner in the Financial Services Group of Pepper Hamilton LLP, resident in the New York …
Adam is a Banking and Finance associate whose practice focuses on leveraged finance. He represents financial institutions and sponsors/borrowers in …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
145103
NASBA Field of Study:
Finance
NY Category of CLE Credit:
Areas of Professional Practice
Total Credits:
2.0 CLE
2.0 CPE (Not eligible for QAS (On-demand) CPE credits)
Login Instructions:
No Access
You are not logged in. Please Login or register to the event to gain access to the materials and login instructions.
Unlock All The Knowledge and Credit You Need
Leading Provider of Online Continuing Education
It's As Easy as 1, 2, 3
Get Your 1-Year All Access Pass For Only $199
SPEAKERS' FIRMS:
About Pepper Hamilton LLP
Pepper Hamilton LLP is a multi-practice law firm with more than 500 lawyers nationally. The firm provides corporate, litigation and regulatory legal services to leading businesses, governmental entities, nonprofit organizations and individuals throughout the nation and the world. Peppers Financial Services Practice Group includes more than 45 lawyers and other professionals who focus their practices on issues affecting the financial services industry.
Website: https://www.pepperlaw.com/
About Mayer Brown LLP
Mayer Brown’s Global Finance practice is a founding practice of the firm and continues to be a signature strength. Many of the firm’s largest clients are bank holding companies, commercial banks, investment banks, insurance companies, asset-based lenders, leasing companies or institutional real estate companies.
Website: https://www.mayerbrown.com/