Синдицированный кредит как инструмент реструктуризации финансовой задолженности
As a rule, the main incentives to arrange a syndicated loan are to finance the current activities and further development of the borrower’s business. Howe-ver, in some cases, a syndicated loan is necessary to restructure the company’s debt, review relations with current lenders and prevent possible bankruptcy. The article discusses the use of syndicated loans’ features, applicable provisions of standard documentation and legal problems that arise during the realization of syndicated deals. In particular, when syndicated loan is used as a restructuring instrument for non-performing indebtedness, the role of collateral increases, the risks of contesting a transaction on «bankrupt» grounds increase, and the role of a facility agent and a security agent increases. The possibility of amending syndicated loan legislation and standard documentation to ensure widespread use of syndicated loans for restructuring purposes is considered.