The ICMSA has produced a pro forma set of standard provisions for meetings and voting in relation to bonds/notes.
Please refer to the pro forma here.
ICMSA Bulletin 140328/27: Pro Forma Account Bank Agreement
The ICMSA has produced a suggested pro forma account bank agreement for use in structured finance transactions.
Click here to download a copy of the pro forma in word format.
ICMSA Bulletin 130916/25: FATCA – material changes
The FATCA regulations have provided for the “grandfathering” of certain US-source debt securities issued before 1 July 2014.
The purpose of this bulletin is to clarify the operational flows of the notification of a Material Change affecting a security after 1 July 2014 along the chain of intermediaries from the issuer to the investor.
Linklaters Alert – July 2013
Trustee and Paying Agent FAQs :
Should the Principal Paying Agent Hold Bond Payments On Trust for Bondholders?
ICMSA Bulletin 130625/23: Trustee fees and expenses caps
It is noted that, on certain structured finance transactions, caps on the fees, expenses and indemnification payments to certain transaction parties, including the trustee, may be sought.
In this paper, we summarise the approach taken by the major rating agencies (the “Rating Agencies”) in respect of such caps on trustees’ fees and expenses and note the issues which may arise for trustees when such fee caps are proposed.
ICMSA Bulletin 130614/22: Executed original documentation
The ICMSA has noted a tendency for the signatures of parties to agreements to be circulated in soft copy only.
In some circumstances, particularly in the context of litigation, the existence of hard copy, executed documentation can prove crucial and there have been instances of parties being unable to enforce their rights as a result of the absence of original, executed documentation.