First published in 2015, the Guide has become an important contributing factor in the development of the market. A new edition of the Guide was produced in October 2016 as a result of evolutions in the ECPP market, and now also covers aspects of the German Schuldscheindarlehen (SSD) market as part of the wider ECPP universe, and includes an appendix on general principles of, and best practice applicable to, ECPP deal amendments and waivers.
The Guide defines best practices and the role of parties, while providing standard summary terms for discussion between borrowers and investors that is both documentation and jurisdiction neutral. The Guide also promotes and directs readers to the standardised and complementary transaction documentation produced by the Loan Market Association and the Euro PP Working Group.
The Guide is available here.
- Allen & Overy Report 'Funding European business: Harnessing alternatives' November 2015
- ‘Bridging the growth gap: Investor views on European and US capital markets and how they drive investment and economic growth’ published by AFME and BCG, February 2015.