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Coordinating Swap and Loan Documentation

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.

Runtime: 88 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

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
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on November 25, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Alexander Fraser

Alexander Fraser

Michael Best & Friedrich LLP

Alec P. Fraser

  • 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 [email protected]
Cheryl L. Isaac

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 [email protected]
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Product ID: 407078
Published 2019
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