Lender
The entity or entities, typically commercial banks, which purchases the bonds pursuant to a private placement for its own portfolio.
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Lender’s Counsel
An attorney or firm of attorneys engaged to represent the Lender in a Private Placement.
Responsibilities of Lender’s Counsel include reviewing transaction documents, advising the Lender on the applicability of federal and state securities laws, drafting continuing covenant agreements, if applicable, and ensuring compliance with the Lender’s internal policies and procedures.
Life’s a Party
Learn more about the various parties involved in a municipal securities transaction and their roles.
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.
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Hundreds of Terms and Concepts
Private Activity Bond (PAB)
The term used in the Code to describe any bond issued as part of a bond issue that meets both of the private business tests or meets the private loan financing test.