Capitalize on the booming $1.2 trillion leveraged loan market―a fully updated edition of the LSTA’s authoritative guide The global financial crisis triggered a series of major changes to the lending landscape, and this heavily updated edition of the go-to guide to the loan syndication market delivers the information and insight you need to succeed. In addition to brand-new chapters on direct lending, the growth of the middle market, sustainability finance, Fintech, and Blockchain, The Handbook of Loan Syndications and Trading, Second Edition delivers fully updated content on critical topics, including: Today’s loan market—how the players have changed and the impacts of other markets Additional loan structures and credit agreement technology in use today The rise of secondary trading as a result of the global financial crisis How the dramatic increase of price volatility affects the market The role of ratings in today’s market Changes to the art of distressed trading The new post-Dodd Frank regulatory landscape The evolving landscape of the loan markets in Asia and Europe The Handbook of Loan Syndications and Trading, Second Edition delivers everything you need to know about the booming U.S. corporate loan market. It provides expert analysis and insights on virtually every key aspect of this financial market, while bringing you completely up to date on the many changes in your profession over the past decade.

The First Guide to Understanding and Capitalizing on the $1 Trillion-Plus Loan Syndications and Trading Market! The Handbook of Loan Syndications and Trading is the first resource especially designed to equip institutional investors and professional money managers with expert analysis and insights on every key aspect of this rapidly growing financial market. Co-published by McGraw-Hill and the Loan Syndications and Trading Association (LSTA), The Handbook of Loan Syndications and Trading fully explains the evolution and history of the loan market…primary and secondary markets …analytics and performance…the credit agreement… pricing and all legal and regulatory issues. This comprehensive reference guide features: First-ever guidance on the booming loan syndications and trading market, covering every topic that investors and money managers need to know Over 40 contributions from the leading players in loan syndication, including Standard & Poor's, Bank of America, JP Morgan, Credit Suisse, along with top Buyside Institutions and Law Firms Valuable insights and observations from industry experts A comprehensive A-Z glossary of all loan syndications and trading terms Dozens of helpful tables, charts, and examples

The definitive guide for navigating today’s credit agreements Today’s syndicated loan market and underlying credit agreements are far more complex than ever. Since the global financial crisis, the art of corporate loan syndications, loan trading, and investing in this asset class have changed dramatically. Lenders are more diverse, borrowers more demanding, and regulations more stringent. Consequently, the credit agreement has evolved, incorporating many new provisions and a host of revisions to existing ones. The LSTA’s Complete Credit Agreement Guide brings you up to speed on today’s credit agreements and helps you navigate these complex instruments. This comprehensive guide has been fully updated to address seven years of major change—which has all but transformed the loan market as we knew it. It provides everything you need to address these new developments, including what to look for in large sponsor-driven deals, the rise of “covenant lite” agreements for corporate borrowers seeking fewer covenant restrictions, Yankee Loans, other products resulting from globalization, and other product developments driven by the diversification of the investor class. You’ll benefit from the authors’ in-depth coverage of all the nuances of today's credit agreements, as well as their tips on how to protect your loan, manage defaults, and navigate cross-border deals. This reliable guide covers: o Commitments, Loans, and Letters of Credit o Interest and Fees o Amortization and Maturity o Conditions Precedent o Representations o Covenants o Guarantees and Security o Defaults and Enforcement o Interlender, Voting, and Agency issues o Defaulting Lenders o Assignments, Participations, and Disqualified Lender ListsBorrower Rights o Regulatory Developments Structuring and managing credit agreements has always been a difficult process – but now it’s more complicated than ever. Whether you work for a company that borrows money in the syndicated loan market or for a bank, a hedge fund, pension fund, insurance company, or other financial institution, the LSTA’s Complete Credit Agreement Guide puts you ahead of the curve of today’s credit landscape.

The Structured Credit Handbook is a comprehensive introduction to all types of credit-linked financial instruments. This book provides state-of-the-art primers on single tranche collateralized debt obligations (CDOs), collateralized loan obligations (CLOs), credit derivatives (such as credit default swaps and swaptions), and iBoxx indexes. Filled with in-depth insight and expert advice, The Structured Credit Handbook covers all aspects of the synthetic arbitrage CDO market, including new instruments such as CDO2. Readers will also gain a firm understanding of the investment rationale, risks, and rewards associated with CDO investments through this valuable resource. The exploding use of credit derivatives and collateralized debt obligations (CDOs) has transformed the world of credit, creating an $18 trillion market almost overnight and resulting in innumerable investment and career opportunities globally. The Structured Credit Handbook provides the reader with a comprehensive and clear roadmap to today's new credit landscape. The full spectrum of structured credit products, from single-name CDS to CDOs, is explained in a simple, clear fashion that is free from the financial jargon and mathematical complexity which characterize many other derivative texts. The handbook begins with an in-depth explanation of the building blocks of the structured credit markets, single-name default swaps and indexes, and it culminates with complex products such as credit options, synthetic tranches, CDOs based on bank loans and asset-backed securities, and CDO-squareds. Written by experienced practitioners who have participated in this market since its infancy, each of the thirteen chapters introduces and analyzes a new product and explains its practical applications. A rich set of real-life case studies illustrate the application of each product in a concrete market setting. The book may be used in a semester-long course on structured credit as part of a business or finance curriculum. Whether you are a market professional, a university student or faculty member, or simply a financially savvy layperson, look no further for an up-to-date and thorough introduction to this rapidly growing and exciting field. Dr. Arvind Rajan, Managing Director, Citigroup Global Markets, is engaged in proprietary trading of Structured Credit products, and until recently, was global head of Structured Credit Research and Strategy at Citigroup. Glen McDermott (New York, NY) is Director of Fixed Income Sales and the former head of CDO Research at Citigroup Global Markets Inc. Ratul Roy is head of CDO Strategy for Citigroup Global Markets and has spent the prior nine years in structuring or analyzing CDOs and other structured credit products.

Preferential trade agreements have become common ways to protect or restrict access to national markets in products and services. The United States has signed trade agreements with almost two dozen countries as close as Mexico and Canada and as distant as Morocco and Australia. The European Union has done the same. In addition to addressing economic issues, these agreements also regulate the protection of human rights. In Forced to Be Good, Emilie M. Hafner-Burton tells the story of the politics of such agreements and of the ways in which governments pursue market integration policies that advance their own political interests, including human rights.How and why do global norms for social justice become international regulations linked to seemingly unrelated issues, such as trade? Hafner-Burton finds that the process has been unconventional. Efforts by human rights advocates and labor unions to spread human rights ideals, for example, do not explain why American and European governments employ preferential trade agreements to protect human rights. Instead, most of the regulations protecting human rights are codified in global moral principles and laws only because they serve policymakers' interests in accumulating power or resources or solving other problems. Otherwise, demands by moral advocates are tossed aside. And, as Hafner-Burton shows, even the inclusion of human rights protections in trade agreements is no guarantee of real change, because many of the governments that sign on to fair trade regulations oppose such protections and do not intend to force their implementation.Ultimately, Hafner-Burton finds that, despite the difficulty of enforcing good regulations and the less-than-noble motives for including them, trade agreements that include human rights provisions have made a positive difference in the lives of some of the people they are intended-on paper, at least-to protect.

The new Syndicated Lending 5th Edition contains a new corporate acquisition case study, complete update and revised information to take account of all the changes in the rapidly evolving market for syndicated credits

If you're a biotech executive, investor, deal maker, entrepreneur, or adviser-or aspire to be one-then you need to know how to build and analyze forecasts and valuation models of R&D-stage drugs. The Pharmagellan Guide is a comprehensive, thoroughly referenced handbook for early-stage biopharma assets and companies.