Orrick today announced the creation of the first legal portal for the corporate direct lending community. The site (DirectLending) breaks new ground by offering fast, simple solutions to a wide variety of common issues that arise in direct lending transactions.
The direct lending portal offers a number of key features. Among others, these include: An efficient tool for automatically generating draft legal term sheets and/or engagement letters for new deals by answering a brief online questionnaire; an app for determining the level of credit support any affiliate of a U.S. borrower can provide without triggering a “deemed dividend;” a list, with hyperlinks, of more than 100 of the country’s direct lenders; and an interactive checklist for getting through the most important parts of any credit agreement in an hour or less.
“We are proud to launch this tool for the U.S. corporate lending community,” said B.J. Rosen, an Orrick partner and global co-head of the firm’s Direct and Specialty Lending practice. “We believe this type of innovation is overdue in the market and will be valuable to clients, particularly in the middle market segment.”
Compliments of Orrick – a member of the EACCNY