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Best Practice Guide for Term Sheet Completeness—Explainer

Best Practice Guide for Term Sheet Completeness—Explainer The Loan Market Association and European Leveraged Finance Association published a guide in November 2020 (updated in 2021) entitled Best Practice Guide for Term Sheet Completeness, for use on leveraged finance transactions. The aim of the Best Practice Guide is to assist investors in the investment decision by ensuring that leveraged finance term sheets contain as much detail as possible as to key terms. To this end, the Best Practice Guide sets out a list of those provisions identified by investors as being of material importance to their investment decision. The Best Practice Guide presupposes a high level of understanding of leveraged finance terms and jargon. The Best Practice Guide lists the terms that should be included, and under each term sets out a bullet point list of the various points that the term sheet should cover in relation to that particular term. This Practice Note lists out the terms referred to in the Best Practice Guide and, under the heading Provision,...

Banking & Finance glossary

Banking & Finance glossary A Auditing and Accounting Organisation for Islamic Financial Institutions (AAOIFI) The leading Islamic international autonomous not-for-profit corporate body that prepares accounting, auditing, governance, ethics and Shari’ah standards for Islamic Financial Institutions (IFIs) and the global Islamic finance industry. Established in Bahrain in 1991, it is supported by a number of institutional members from over 45 countries, including central banks and regulatory authorities, financial institutions, accounting and auditing firms, and legal firms. Its standards are currently followed by the leading Islamic financial institutions across the world and have introduced a progressive degree of harmonisation of international Islamic finance practices. It also offers professional qualification programs (notably Certified Islamic Professional Accountant (CIPA), the Certified Shari’ah Adviser and Auditor (CSAA), and the corporate compliance program) in efforts to enhance the industry’s human resources base and governance structures. For more details, see Practice Note: Key participants in the Islamic finance industry—Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). Acceleration Acceleration refers to the taking of a formal step by...