Course details

Dates are currently being finalised. Get in touch to find out more
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VAT on Virtual and Online Programmes

VAT is applicable on virtual programmes to delegates attending from the UK*. If participating from the EU, a valid VAT number is required to ensure VAT will not be charged under the reverse charge mechanism. VAT is not applicable to attendees from all other countries.
*For virtual courses ran through our Asia office, VAT may be applicable to HK and Singapore residents only. Find out more by contacting learning@euromoney.com

 

Claiming Back Your VAT

All attendees of a London based course incur VAT as a part of the cost of attendance.

Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.

Using VAT IT's extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.


Claim the VAT that's rightfully yours in four simple steps:

1. Register your interest

2. Sign a few simple documents

3. VAT IT processes your claim

4. Receive your refund




Why choose VAT IT 

VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.

VAT IT will charge a percentage of the VAT refund if/when it is successful. 


Can I claim back the VAT myself?

You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form. 
For European clients, please refer to form VAT 65
All other clients, please refer to form VAT 65A.

 

You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.

Loan Documentation School (Modular Course)

Get up to speed with loan transactions and legal requirements
  • “It gives you a thorough understanding of the fundamentals of international loan documentation”
    Head, Rizal Commercial Banking Corporation

    “Well structured and clear. Excellent trainer!”
    VP, BNP Paribas Singapore

     

    Our new, Virtual Loan Documentation School (Modular) is made up of two separately bookable modules:

    Module 1: Loan Documentation (Days 1-2)
    Module 2: Advanced Loan Documentation (Day 3)

    Loan Documentation is an intensive course that covers all aspects of a loan transaction, concentrating particularly on the agreement itself and on the legal implications of a properly drafted and incorrectly drafted document. Delegates will be taken step-by-step through the process of documenting a loan, from the early stages of pre-contractual issues, letters of commitment and written offers, through to administrative provisions, representations, covenants, defaults, transfer provisions, guarantees and the
    eventuality of insolvency.

    Advanced Loan Documentation builds on the content of the first module - 'Loan Documentation' and it focuses on the practical interactive workshops on the key issues and on detailed comments on the agreement. The course is highly interactive, giving participants a more detailed understanding of the loan documentation in practice. It builds on the previous module by looking at the loan agreement in different commercial contexts and at structural issues which commonly arise.

    Summary of course content

    • Start from pre-contractual issues and explore the key clauses in a loan agreement
    • Spot key issues and deal with comments
    • Avoid conflicts between representations, conditions precedent, undertakings and 
    • events of default
    • Review the loan agreement in different commercial situations: Project corporate
    • and asset based financings
    • Review contractual support arrangements
    • Examine common intercreditor arrangements

     

    Methodology

     

    This course will be run via Meeting Rooms technology, and will be divided into distinct sessions allowing the participants to network with peers and gain insight from the facilitator 


    This course is both practical and interactive. It has been designed to be immediately relevant to lawyers and bankers involved in loan documentation. Through a series of formal lectures, group discussions and virtual workshops, delegates will cover all aspects of loan transactions, concentrating particularly on the agreement itself.


    Note - A good level of spoken and written English is required to attend this course. Delegates should be of an intermediate standard in English at a minimum. Please refer to the Common European Framework of Reference for Languages - as a guide the level required is B2. 

  • This course will be run using meeting rooms technology.  To find out more contact learning@euromoney.com

     

    Start time each day will be 9am BST (British Summer Time) 

     

    Module 1 - Loan Documentation 

     

    Day 1

    Introduction

     

    • Financing choices
    o debt/equity;
    o loan markets/capital markets;
    o long term debt/current liabilities

     

    • Loan types
    o single bank /syndicated;
    o term/revolver;
    o project/corporate/asset/limited recourse;
    o loan/l/c/guarantee facilities

     

    Key Issues

     

    We will discuss the overarching issues which lenders and borrowers will be watching out for when reviewing the documentation – followed by a workshop where participants will discuss key issues in practice
    • Certainty
    • Robustness
    • Scope
    • Money issues
    • Control
    • Other?

     

    Break

     

    Interest

     

    • Different interest rate options
    • Impact of Basle regulations
    • Risk free rates and the transition from LIBOR
    • Default Interest
    • Witholding tax, gross up and FATCA

    Document Overview

     

    o Overview of the loan agreement and security documents
    o What is where and why?
    o How to find your way around the documentation quickly

     

    Lunch break
     Administrative Provisions

     

    • Issues with Definitions
    o Circularity
    o Moving definitions
    o Operative provisions
    o Uncapitalized definitions
    o Multiple application
    o context

     

    • Some key definitions
    o Break costs
    o Default
    o Defaulting Lenders
    o Financial Indebtedness
    o GAAP
    o Group
    o Majority Lenders
    o continuing

     

    Break

     

    • Mechanical Provisions
    o Drawdown and conditions precedent
    o Prepayment
    o Sanctions
    o Increased costs
    o Change of control

     

    • Workshop

     

    Participants will discuss and explain expressions commonly used in international finance

    Day 2

     Representations

     

    • Purpose

    • Topics of representations including
    o Common comments on Information representation
    o Pari passu
    o Litigation

     

    Repeating representations

     

    Including a workshop to identify the impact of repeating representations and the interrelation between repeating representations and other parts of the document

     Break
     Undertakings

     

    • Information Undertakings
    • Financial ratios
    o Purpose
    o Limitations
    o Common ratios

     

    • General Undertakings including
    o negative pledge and
    o no disposals
    Lunch break

     

    Events of Default

     

     Big Picture
    o Purpose and mechanics
    o Default
    o Remediable Events of Default?
     Cross default
     Other Events of Default
     Material Adverse Change

    Break
     Boilerplate

     

     Loan transfers
    o Novation
    o Assignment
    o Subparticipation
    o Credit derivatives
     Agent’s role and protections
     Anti estoppel clause and reservation of rights letters

     

    Module 2 - Advanced Loan Documentation 


    Day 3

     

    Intercreditor Arrangements
     • Subordination
    o structural
    o equitable;
    o contractual
    o By time?
    o By security?

     

    Break

     

    • Issues to be addressed in the agreement
    • Review extracts from intercreditor agreements

     

    Lunch break
     Loans in different contexts
     

    Comparison of key clauses and issues from asset based lending; project based lending and corporate based lending. We will focus on the drawdown provisions, the financial ratios and the undertakings

     

    Break
     What can go wrong?
    We will highlight common legal issues which give rise to problems in structuring and documenting loans including discussion of the international aspects and legal opinions. The aim is to enable participants to identify areas which could give cause for concern and which might need particular attention during the due diligence process
    o Financial assistance
    o Ultra vires
    o Commercial benefit
    o Preferences
    o Transactions at an undervalue
    o Registration
    o Penalties
    o Administration
    o Interference with contacts



  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – 10/10 of the world’s largest banks have chosen us as there training provider and we have delivered training across the largest banks and have trained over 25,000 professionals.
    • Knowledge – our 100+ strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 25,000 events both in person and online, using simultaneous translation to delegates from over 99 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 4.2/5 on service and 4.7/5 on Coursecheck
This course can be run virtually online or as an in-house, tailored learning solution

Instructor

  • Sue Wright

    Biography

    Sue Wright is a solicitor with over 18 years experience in international banking transactions, including syndicated loans, subordinated debt, structured finance and tax driven transactions. She was a partner in the banking department at Norton Rose for 8 years and was responsible for training assistants at Norton Rose for 2 years. Sue has been highly recommended as one of the leading experts in her field by the Legal 500 and by Chambers.She was the Head of Professional Development at Herbert Smith and is now running an independent training consultancy, specialising in international banking.