Jurisdiction(s):
United Kingdom

Key definition

Finance parties definition

What does Finance parties mean? In loan and security documents, Finance Parties describes the group of institutions on the creditor side of a facility. In LMA-based syndicated facility agreements it is a contractual defined term (not prescribed by legislation or case law) and typically includes: the Lenders (including Original and Acceding Lenders), the facility agent, Mandated Lead arranger(s), the Security agent or Security Trustee, any Issuing Bank for letters of credit, Hedge Providers/Ancillary Lenders, and any other agent named in the finance documents. The scope of the term is practically important: it identifies who may enforce security, vote on amendments and waivers...

Project finance: roles, responsibilities and qualifying criteria of lenders, arrangers, facility/intercreditor agents, security trustees/agents, hedge counterparties, account banks, role banks and specialist advisers

Published by a LexisNexis Banking & Finance expert

Practice notes

The main Finance parties in a typical project finance transaction

These largely mirror those found in syndicated Lending, namely:

the lenders
Hedging counterparties
the arranger(s)
the intercreditor agent (sometimes called the common agent)
the facility agents
the security trustee/security agent

In project finance, further functions commonly feature within the financing structure and/or on behalf of the finance parties. These may include:

the account bank(s)
the role banks
specialist/technical advisers to the finance parties

Some of these extra responsibilities can be undertaken by one or more of the banks or financial institutions already involved in the transaction. The main project parties in a typical project finance transaction are explained in Practice Note: Project finance—key project parties...

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Web page updated on 21/05/2026

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