For some time, economists have had available works on international financial integration and the financial arbitrage which is its product. Similarly, dealers in the eurocurrency capital markets have had access to books on how to analyse investment decisions in this market, and on the practices of the market and the structure of transactions. This book is one of a growing collection on the legal aspects of transactions in the eurocurrency capital markets.

Previous books on the legal aspects of capital market transactions have faced the daunting tasks of surveying new ground, as well as covering several different types of transaction—for example, term and syndicated loans as well as issues of bonds and notes. Consequently, they have covered the obvious law, and left some of the more difficult questions posed but unanswered. This book takes one of the original and still commonplace forms of eurocurrency finance, the syndicated loan, and analyses in detail the legal problems raised by the main clauses of the loan agreement. The method of analysis the author adopts is that of most standard works on contract. He starts at the negotiation of the loan agreement, works through the various representations, terms and conditions adopted by the parties and moves