As with other finance markets in Europe, subscription line lenders are increasingly hesitant to take on the role of fronting issuing bank as the role is set out in the Loan Market Association form. Although there are variations on a theme, two main methods of dealing with the letter of credit mechanics are emerging.
We can pack in some serious substance on a Friday (not necessarily everyone’s peak time for absorbing a nuanced discussion on complex financial products). Here’s a recap of original substantive pieces from recent issues for easy reference.
Sola Akinola, Director of Research at Prequin, presented a Private Capital Market Update at the Symposium. The FFA made the slides available here. To read Cadwalader’s summary of the presentation, click here.
Prior to the Symposium, the Fund Finance Association emailed a survey to the relationship manager for each Symposium sponsor and to the General Partner personnel that had registered for the event. Nick Mitra, Managing Director at Natixis and FFA board member, presented the survey results at one of the plenary sessions.
