Key takeaways

• A number of recent initiatives in Europe aim at the development of a pan-European private placement market through standardization of the contractual private placement documentation and guidance on common market standards and best practices.
• The initiatives include the English law private placement documentation published by the Loan Market Association, the French law private placement documentation published by the French Euro PP Working Group, the Pan-European Private Placement Guide issued by the Pan-European Private Placement Working Group and the Schuldscheindarlehen – LMA Product Guide issued by the Loan Market Association.
• The new pan-European private placement documentations are intended to offer a competitive alternative to the USPP model documentation and to attract more European issuers and investors to the private placement market.