Practical Law Canada Glossary 8-623-5814 (Approx. 2 pages)
Glossary
Loan Syndications and Trading Association (LSTA)
A not-for-profit organization formed to develop standard settlement and operational procedures, market practices, and other mechanisms in the US syndicated loan market to improve the liquidity of the secondary trading market for corporate loans originated by commercial banks and other similar private debt. It was formed in 1995 and currently has approximately 400 members made up of banks, funds, law firms, broker-dealers, and other major financial organizations.
Among other things, LSTA has developed certain standard documents (such as an assignment agreement) and model credit agreement provisions that are commonly used by major bank lenders. Membership is required to access these documents.