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:

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