We have noticed a recent uptick in requests for umbrella subscription credit facilities, and the topic was given some air time at the FFA conference in Miami last week. As such, and given the rainy spring weather, we thought it would be a good time to refresh on umbrellas with a brief overview of a classic subscription umbrella facility, followed by some pros and cons to lenders.
As with other finance markets in Europe, subscription line lenders are increasingly hesitant to take on the role of fronting issuing bank as the role is set out in the Loan Market Association form. Although there are variations on a theme, two main methods of dealing with the letter of credit mechanics are emerging.
The Fund Finance Association's Next Generation young professionals initiative has announced an upcoming event in London for May 2.
Cadwalader, Simpson Thacher and the Maples Group are co-sponsoring a fund finance event in San Francisco on May 15.
We highlight senior and mid-level opportunities at Silicon Valley Bank in New York and California and a London opening at ANZ.
Here are updates to our Fund Finance Calendar.
We can pack in some serious substance on a Friday (not necessarily everyone’s peak time for absorbing a nuanced discussion on complex financial products). Here’s a recap of original substantive pieces from recent issues for easy reference.
The 9th Annual Global Fund Finance Symposium wound up Tuesday afternoon. Here are our key takeaways from the event.