Certificate Course - POSTPONED

The LMA Certificate Course is a one week training course aimed at those working in the banking and institutional investor markets looking to gain a broad understanding of the workings of the primary and secondary syndicated loan market. The course can be for those working in the legal profession, but they might find the two-day Syndicated Loans Course for Lawyers more appropriate.

This event is offered only to members of the LMA. Members will first need to have logged on using their individual username and password in order to use the 'Book Now' icon below and apply.

The course fee is £1,850 (plus VAT) which covers all tuition, lunches, refreshments and course materials. Payment is expected in advance of attendance. Those who cancel their attendance on/before 11 May 2020, will be eligible for the full cost of the course. After this time, substitute delegate can be nominated prior to the start of the course or, in exceptional circumstances, a delegate can be switched to a later course, subject to the LMA being able to find a replacement.

Click on Event Agenda above to view the outline of the programme.

The LMA Certificate Course is a one week course providing detailed tuition, with use of case studies and workshops, on all aspects of the primary and secondary markets. It does not include specific training on LMA standard documentation - separate courses are held on this topic.

The LMA Certificate Course is designed for those who are:

• Bankers and institutional investors relatively new to international banking or experienced but in a different product/business area; or
• Practitioners, working in one segment of the loan market such as agency & compliance, who require a broader overview of the various activities which make up the syndicated loan market; or
• Junior personnel in origination, distribution or a trading team; or
• Seeking to enter a syndication team and need to develop their knowledge of the market; or
• Practitioners in other product groups, such as bonds, CDS and relative value, who require an insight into the syndicated loan market.

Course Format

The one week full-time course is based around a series of formal lectures delivered by various experienced market practitioners and lecturers, interspersed with workshops and case studies. The course is restricted to a maximum of 20 delegates.

An examination is held at the end of the course.

Day 1

Introduction to the Market and Definitions

• Overview of product and market definitions, market statistics and transaction timetable
• Term sheets and introduction to documentation
• Responsibilities in a syndication unit: separating the functions
• Assessment of term sheet proposals from a borrower's viewpoint
• LMA Real Estate Documentation and Market
• Green and Sustainability Linked Loans

Day 2

Pricing in the Primary Market

• Leveraged finance
• Debt markets compared and ratings
• Introduction to Loan Maths
• Request for Proposal
• Pricing dynamics
• Bidding and syndication strategies
• Credit Insurance

Day 3

Syndication Strategies

• Agency functions with case study
• Training on Dealogic Loan Analytics database

Day 4

Secondary Market

• History and reason for existence of secondary market including trading in the secondary market
• Secondary trading and pricing
• Types of investors
• Confirmations, transfers and completion of trade
• Secondary pricing case study

Day 5

Portfolio Management

• Portfolio Management
• Regulation and the role of the LMA
• Examination