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New Territories Podcast — Ep 7: Syndicated Loans — LSTA and OpenLaw Collaboration

Learn how the syndicated loan market works and why using a blockchain-based contract platform will improve the syndicated loan market better for all parties.

What is the New Territories Podcast?

The New Territories Podcasts hosted by Joyce Lai is a Brooklyn Project initiative that features conversations with industry thought leaders exploring the intersection of law, policy, blockchain technology and more.

Listen and subscribe to the New Territories podcast:

Episode 7: Syndicated Loans — LSTA And OpenLaw Collaboration

While we do not often hear about it in the news, the U.S. syndicated loans market is approximately $3 trillion in size. Although large sums of money change hands in this market, the efficiency in the operations of this market remains dependent on circulating lots of paper amongst many different parties. The loan syndication space is prime for increased efficiency with blockchain tech.

In this episode, Joyce speaks with Bridget Marsh, Executive Vice President and Deputy General Counsel of the Loan Syndication Trade Association, and Aaron Wright, Founder of OpenLaw, on how the syndicated loan market works and why using a blockchain-based contract platform such as OpenLaw will make the syndicated loan market better for all parties.

In this episode, Joyce, Bridget, and Aaron discuss:

  • What are syndicated loans?
  • What are the dynamics of the loan syndication market?
  • Who is the Loan Syndication Trade Association and what does it do?
  • How the LSTA is collaborating with OpenLaw and why it matters.
  • What the different participants in the loan syndication market think about using blockchain to innovate this market.
  • An argument for why blockchain innovation in loan syndication is good for administrators.
  • The important regulatory status of syndicated loans as non-securities.
  • The challenges that remain in automating deal documents.

About the Guests:

Bridget Marsh

Bridget Marsh is Deputy General Counsel of the Loan Syndications and Trading Association (LSTA). Bridget heads the LSTA’s Primary Market Committee and Trade Practices and Forms Committee and leads the legal projects for the development and standardization of the LSTA’s documentation. She is responsible for responding to and addressing secondary loan market trading disruptions and ensuring that the LSTA’s primary market and trading documentation reflects current market practices. Bridget regularly speaks on the loan market at American Bar Association events.

Aaron Wright

Aaron Wright is a Co-Founder of OpenLaw, a smart contracts blockchain platform. He is also Associate Clinical Professor of Law at Benjamin N. Cardozo School of Law and is the Director of Cardozo Law’s Blockchain Program.

About Joyce Lai, Host of New Territories

Joyce Lai works at the intersection of law and technology at ConsenSys alongside the blockchain industry’s brightest developers and other professionals who take great pride in creating a decentralized future. Through the Brooklyn Project, a ConsenSys “open-source” public policy initiative, she helps the world gain a deeper appreciation of how the application of forward-thinking policy to blockchain technology can bring a positive impact. Prior to ConsenSys, she spent several years in private practice advising investment advisers at Seward & Kissel LLP in New York.

Joyce received dual undergraduate degrees in biology and economics from UC Davis and her J.D. from Fordham University School of Law. Joyce speaks frequently on topics involving blockchain technology, regulations, public policy, and other legal issues.

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Disclaimer. The views, information, and opinions expressed are solely those by the author above do not necessarily represent the views of Consensys AG. They are meant for informational purposes only, are not intended to serve as a recommendation or investment advice to buy or sell any securities, cryptoassets, or other financial products.

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New Territories Podcast — Ep 7: Syndicated Loans — LSTA and OpenLaw Collaboration was originally published in ConsenSys Media on Medium, where people are continuing the conversation by highlighting and responding to this story.