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This subject involves the study and analysis of the structure, purpose and key provisions of cross border lending documentation, including large market standard syndicated credit agreements (governed by New York or English law). Students will focus on anticipating potential concerns and tensions in the negotiation process and will have the chance to review and study all the agreements and documents such as the credit agreement, other ancillary documents, schedules and deliveries that they will encounter in practice. Students will also study the structure and standard documents used in the cross-border repo market, one of the most important international capital markets.
Christian Johnson is the Dean and Professor of Law at Widener Commonwealth Law School in the United States. Dean Johnson has worked for large international law firms in New York and Chicago. In addition to teaching previously at Melbourne, he has taught lending and finance documentation to lawyers and bankers in Europe, the Middle East, Asia and Latin America. Professor Johnson has his JD from Columbia Law School and is a CPA.
Principal topics include:
- Study of the key interbank credit markets
- Analysis of the various structures and purposes of different cross-border lending transactions
- Discuss the key differences between New York and English law in lending transactions
- Review of the key provisions and clauses found in cross-border lending documentation
- Study of the key clauses found in New York/English guarantees
- Analysis of the key legal, credit and business issues in repo transactions.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced understanding of the structure and key business, credit and legal elements of cross border lending documentation
- Master the negotiation of sophisticated and complex lending documentation, including the key representations, covenants, operative terms, events of defaults, and remedies found in market standard international lending documentation
- Comprehend the key idiosyncratic provisions found in cutting edge syndication and administrative agent clauses
- Identify and analyse the key and core elements in US and English law guarantees used by multinational financial institutions
- Grasp the special interest rate protection and breakage clauses
- Master the key legal, credit and business issues in global repo agreements used in international capital markets.
Last updated: 17 March 2020