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Stock Exchange

Secondary Loan Trading

The AldrichEgg team has over forty years of combined experience representing hedge funds, investment banks, CLOs, and other sophisticated financial institutions in connection with the trading of secondary syndicated loans. As a result, we have a keen understanding of the legal and business issues facing market participants in the loan markets. Our ability to quickly adapt to market challenges, borne out of years of experience, means our professionals stand ready to provide clients with rapid and accurate execution of their deals.

The firm's secondary loan trading practice focuses on the representation of clients in connection with the assignment of both par and distressed corporate loans. The majority of trades involve U.S. law-governed credits which are subject generally to the market practices and documentation developed by the Loan Syndications & Trading Association (the "LSTA"). Our attorneys are well-versed in the nuances of the LSTA loan trading regime and the firm is a member of the LSTA. Since most domestic loan trades are now managed through the ClearPar platform, we ensure that all of our personnel are proficient in its use as well.

Although the majority of our practice involves U.S.-based credits, our team also represents numerous clients with the purchase and sale of offshore loans. These loans are subject generally to the practices and documentation established by the Loan Market Association (the "LMA"). Our attorneys have significant experience with the LMA regime. Over the years, we have represented clients in connection with loans governed by the laws of various offshore jurisdictions including, among others, the Netherlands, England, France, Germany, Luxembourg, Spain, Mexico, Australia, and Hong Kong.

 

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