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Coordinating Swap and Loan Documentation

Date:Monday, November 25, 2019
Time: 1:00-2:30 pm EST

Sponsored by Lorman Education Services


Registration - Live Webinar Only: $199.00

Registration - Live Webinar Plus CD Recording: $268.00

Gain insight into the legal and regulatory implications clients entering into interest rate swaps.

This topic will assist loan counsel in understanding the legal and regulatory implications of their clients entering into interest rate swaps in order to hedge the interest rate risk associated with a credit facility.

For such a hedge to work properly, it is crucial for loan documentation to include the appropriate swap terms, and for loan counsel to comprehend how swap and loan documentation work in tandem.

This includes ensuring that any security instruments properly secure a borrower’s swap obligations; the interest rate terms, including LIBOR fallback terms, match between the swap and the loan; the swap terminates on its own terms; and the parties are complying with Dodd-Frank regulatory requirements. Following this information, loan counsel will be able to identity swap-related pitfalls, and more efficiently draft loan documentation for hedged credit facilities.

Learning Objectives:

  • You will be able to describe how an interest rate swap works and what swap documentation entails.
  • You will be able to discuss best practices for incorporating swap terms in loan documentation.
  • You will be able to explain why LIBOR is being phased out.
  • You will be able to identify Dodd-Frank regulatory considerations, including which borrowers are eligible to enter into swaps.

This Live Webinar Covers These Hot Issues:

Introduction to Hedging and Interest Rate Swaps

  • What Is an Interest Rate Swap?
  • How Hedging Works in a Credit Facility
Swap Documentation Overview
  • ISDA Document Architecture
  • Dodd-Frank Regulatory Considerations
Coordinating Loan Documents With the ISDA Master Agreement
  • Ensuring Swap Obligations Are Secured by Loan Collateral
  • Compliance With Anti-Tying Laws
  • Other Best Practices for Coordinating Swap and Loan Documentation
The LIBOR Phase-out
  • Why Is LIBOR Going Away?
  • Introduction to SOFR
  • How to Prepare for the Transition From LIBOR

Credit Information (Sponsored by Lorman Education Services)

  • CPE
  • NASBA

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Faculty

Alec P. Fraser, Michael Best & Friedrich LLP

  • Partner in the Milwaukee office of Michael Best & Friedrich LLP
  • Primary outside counsel to national, regional community banks on interest rate swaps, foreign exchange, commodities and other derivatives product lines, including documentation for customer transactions and Dodd-Frank Act compliance
  • Practice also includes all aspects of commercial lending, corporate finance and mergers and acquisitions
  • Conducts regular seminars and workshops on derivatives and loan documentation, compliance with derivatives regulations, and the LIBOR phase-out
  • Written several publications related to the areas of derivatives, commercial lending, and benchmark reform
  • Member of the Wisconsin and New York bars
  • J.D. degree, NYU School of Law; B.S. and M.B.A. degrees, University of Wisconsin
  • Can be contacted at 414-347-4757 or apfraser@michaelbest.com

Cheryl L. Isaac, Michael Best Friedrich LLP

  • Senior Counsel in the Washington, DC office of Michael Best & Friedrich LLP
  • Represents financial institutions, energy companies and commodity trading firms on a variety of derivatives transactions, including drafting interest rate, FX and commodity swap documentation, and counseling clients on compliance with the Dodd-Frank Act derivatives regulations
  • Practice also includes advising start-ups and other companies on the evolving laws and regulations that apply to cryptocurrencies and digital assets, as well as the impact of blockchain technology on the derivatives, commodities and banking industries
  • Conducts regular seminars and workshops on derivatives and loan documentation, compliance with derivatives regulations, the LIBOR phase-out, the evolving regulation of cryptocurrencies and digital assets, and the nexus of derivatives, banking and blockchain technology
  • Written several publications related to the areas of derivatives, blockchain technology, cryptocurrencies and benchmark reform
  • Member of the New York, Connecticut and Washington, D.C. bars
  • LL.M. degree, Georgetown University Law Center; J.D. degree, Boston College Law School; B.A. degree, University of Pennsylvania
  • Can be contacted at 202-595-7934 or clisaac@michaelbest.com

(Not available outside the US)