The Loan Syndications and Trading Association (LSTA), the trade association for the corporate loan market, this week released a newly drafted document on representative liability management transaction (LMT) protections for credit agreements in private corporate credit.
These are, as the name suggests, provisions that negotiating parties may employ in credit documents that reference a borrower’s ability thereafter to manage its liabilities, ie debts, in ways much discussed in this era of creditor-on-creditor violence.
