Lender’s Counsel
An attorney or firm of attorneys engaged to represent the lender in a private placement.
bond-basics
Lender
The entity or entities, typically commercial banks, which purchases the Bonds pursuant to a Private Placement (also known as a direct purchase or a bank placement) for its own portfolio.
At the Closing, the Lender delivers an Investor Letter to the Issuer, sometimes called a “big boy letter,” certifying that the Lender understands the terms of the transaction, has the expertise to perform its own credit analysis and will not rely on disclosures of the Issuer or others in deciding to purchase the Bonds.
See Also
Private Placement or Direct Purchase
The negotiated offering of a new issue of bonds directly to one or a limited number of purchasers without using an underwriter.
Start with the Bond Basics
Term of the Week
Securities Act of 1933
Law designed to ensure that investors are provided with material information about new issues of securities offered for sale to the public.