LMA Introduces New Facility Agreement for Developing Market Jurisdictions

The Loan Market Association has launched a new recommended form of Single Currency Term Facility Agreement for use in developing market jurisdictions, in response to demand from market participants. The agreement uses the same basic structure and boilerplate as other LMA form documents, and assumes that the transaction is an unsecured single currency term loan. Although the drafters of the template envisaged that English law would apply to the agreement, market participants are encouraged to consider any other relevant legal and commercial issues arising in the relative jurisdiction.