About USC Gould
USC Gould is a top-ranked law school with a 115-year history and reputation for academic excellence. We are located on the beautiful 228-acre USC University Park Campus, just south of downtown Los Angeles.
Learn about our rigorous and interdisciplinary curriculum, our invaluable experiential learning opportunities, and the breadth and depth of our specialized areas of concentration and certificate offerings.
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- + AREAS OF CONCENTRATION
- ALTERNATIVE DISPUTE RESOLUTION
- BUSINESS LAW
- MEDIA, ENTERTAINMENT AND TECHNOLOGY LAW
- PUBLIC INTEREST LAW
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- + NON-DEGREE PROGRAMS
- ACADEMIC CALENDAR
- COURSE DESCRIPTIONS
Transactional Practice-The Syndicated Loan Agreement (Fall 2017)
- Course Number: LAW-645
- Class Number: 03299
- Instructor: Robert K. Rasmussen
This course will introduce students to the modern syndicated loan transaction and the principal legal and practical issues relevant to a commercial financing arrangement in today’s international financial world. The syndicated loan is the structure now typically used in bank financing of any material size and serves as the foundation of working capital (revolving) and term loan facilities in a wide range of business and commercial contexts (including both operational and acquisition financing) and constitutes an essential component of the risk management strategies generally for both borrowers and lenders.
Using actual financing documents tailored to a hypothetical financing transaction, students will examine how the syndicated loan market operates and why the transactions are structured the way they are. Key to the analysis will be understanding how and why the various documents (from preliminary expression of interest to commitment letter and term sheet and related fee letter to loan agreement and related guarantee and security documents) allow the parties to identify and mitigate the risks on each side. While some opportunity for role playing and mock negotiation will be included, the primary focus will be on problem identification and problem solving in the transactional context and on the interplay of often-competing commercial and legal considerations in structuring and executing business arrangements.
Given the nature of the course, enrollment will be limited to no more than 16 students.
Course material, including background readings, PowerPoint presentations and transaction documents, will be provided by Professor Kaufman.
This is a participatory class, and students will be evaluated in part on their class participation. Risk-taking in the class sessions is not only encouraged, but required. There is no stupid question other than the one that a student does not ask because he or she fears that the professors or another student will think him or her stupid for asking. We will expect that each student will perform the assigned readings prior to class and will attend our sessions prepared to ask questions, discuss the material covered and work on in-class problems. Class attendance is mandatory.
Pass/Fail (Grading basis 50% Classroom Participation, 50% Post-course Written Assignment)
- Unit Value: 1
- Grading Options: CR/D/F Only
- Schedule: September 8th, 9th and 10th
- Exam: None
- Writing Requirement: No
- Skills Requirement: No
- Participation: Required and graded
- Enrollment Limitation: 20 students
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