In Hot Topics in Fund Finance, Wes Misson, partner in Cadwalader's global fund finance practice, and Leah Edelboim, special counsel in Cadwalader's fund finance practice, will cover the trends driving the fund finance market in 2021, a year in which transaction volume has been well ahead of 2020 with all signs pointing to robust demand for the foreseeable future.
Topics include:
- Pricing Trends – An update on pricing trends as we
approach the 4th quarter of 2021, how they compare to
2020 and expectations for 2022, with insight on creeping advance
rates and what it means for the market.
- ESG – Insights on the rapidly expanding market in fund
finance that is ESG, including trends in ESG-linked facilities,
deal structure, KPIs (key performance indicators), SPTs
(sustainability performance targets) and more.
- Revlon – The loan market reacted quickly to the District
Court's decision in In re Citibank August 11, 2020 Wire
Transfers (knowns as "Revlon"); we'll discuss
how these rapidly adopted provisions came to be and their
implementation in syndicated deals in the fund finance market,
touching on hot button issues for syndicate banks as well as fund
borrowers.
- LIBOR – Guidance discouraging origination of LIBOR loans after December 31, 2021 and banks setting their own sunsets prior to that date means there's a lot to talk about, and that's even without the sheer volume of LIBOR loans transitioning, the complexities of multi-currency deals, multiple variations of LIBOR fallback language and non-SOFR based alternative rates floating in the market. We'll break down what we're seeing as parties in the fund finance market address the end of LIBOR.
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