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...

Roles and obligations of finance parties in LMA syndicated facilities: arranger, facility agent, security trustee, lenders, issuing banks and hedge counterparties, with clause references and syndication guidance

Published by a LexisNexis Banking & Finance expert

Practice notes

This Practice Note reviews the principal finance participants actively engaged in a syndicated loan arrangement or syndicated loan facility. It examines the functions and obligations of the arranging bank, facility agent, security agent (also called the security trustee), the syndicate lenders and the issuing bank(s), with specific reference to the Loan Market Association (LMA) loan documentation forms.

Loan Market Association documentation

The LMA is the leading organisation within the European, Middle Eastern and African (EMEA) syndicated loan market across the region. Its aim is to enhance liquidity, efficiency and transparency across the primary and secondary syndicated loan markets. LMA documentation is developed following wide consultation with prominent loan practitioners and law firms, to reflect a shared consensus on documentation structures...

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Web page updated on 21/05/2026

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