- loan buyback
USALoan buybacks refer to a borrower or its affiliate (including a sponsor) buying back part of the borrower's loan from less than all of the lenders in a loan syndicate at less than par value. Loan buybacks became prevalent in the early stages of the financial crisis, when syndicated loans were trading at a substantial discount on the secondary market.For more on loan buybacks, see:• Practice Note, Understanding Loan Buybacks ().• Article, Further Developments in Loan Buybacks ().• Practice Note, Loan Buybacks and Loan Amendments: cancellation of indebtedness income for borrowers ().• Article, Loan Buybacks: Overcoming the Obstacles ().For links to loan buyback amendments, see Practice Note, What's Market: Loan Buyback Amendments ().
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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