With its origins in acting in complex restructuring transactions, GLAS' work covers a broad range of transactions ranging from direct lending with banks and debt funds to high yield bond issuances and complex debt restructurings. GLAS' services are delivered in connection with corporate debt, acquisition finance, project and infrastructure finance and sponsor and corporate led leveraged finance transactions.
GLAS currently has offices based in London, Sydney, New York, New Jersey, and Singapore. An opportunity has arisen to join this growing and dynamic firm as a Loan Closer, providing support to the Loan Closing team based in the London office.
About the Team
The Loan Closing Team oversee the Trade Settlement process of Primary loans and Secondary Par and Distressed loans traded by, amongst others, established Financial Institutions, Asset Management firms and Banks, on LMA and LSTA documentation.
Producing and/or reviewing Trade Confirmations, Transfer Documents, Netting Agreements, Participation Agreements and Pricing Letters
Co-ordinating settlement of trades with counterparty and respective Agents and any other key stakeholders linked to transfer of asset
Co-ordinating settlement of trade with respective Client lender custodian and Client operations team, and managing any subsequent cash settlement queries
Ensuring that underlying loan is transferred in accordance with provisions within Credit Agreement and that the New Lender tax status is correctly reflected. Where applicable, being aware of any additional provisions for transfer and registration of Security
Daily correspondence with Client with regards to liquidity for various lender vehicles and arranging settlement in accordance with lead times
Maintaining an up to date record of all open trades together with respective trade status
Reconciliation of open trades against Client open trades report
Use of Clearpar, however a substantial volume of ‘offline’ Trade Settlement where manually drafted documentation is required
Management of Corporate Action/Waiver process. Liaising with Client and open trade counterparty to coordinate and manage vote accordingly
Minimum 2-3 years Loan Closing experience
Ability to work with a high volume of open trades and numerous sub-allocations
Strong understanding of LMA and LSTA Terms and Conditions
Ability to review LMA and LSTA credit documentation
Strong knowledge of Clearpar and Excel
Market and Risk awareness
Management of Client expectations and ability to work under pressure within strict deadlines
Clear and concise communication skills
Key Personal Skills / Attributes