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Distressed Loan Trade Settlement

Close trades of distressed syndicated loans with ease through automation

Trades of distressed assets in the syndicated loan market require lengthy legal drafting and review during the settlement process, as well as significant operational intervention. This increases the risk and costs for firms that invest in distressed debt.

Our distressed loan settlement solution reduces the manual nature of the operational and legal processes, revolutionizing the workflow for both the seller and the buyer. The solution is built into our ClearPar loan settlement platform and benefits from the power of our existing data and network. ClearPar now:

  • Centralizes and automates the production and approval of legal documentation required to complete a distressed loan trade.
  • Facilitates the review of the chain of title with technology that compares upstream information about an asset using a specialized set of business rules.
  • Tracks inventory (including ledger events) in real time, reducing the risk of manually maintained data.
  • Provides an audit of events and user actions, bolstering risk management.
  • Integrated workflows – Distressed loan trades are integrated into the ClearPar platform and can be easily managed alongside par trades.
  • Extensible data – Our software uses upstream data from past trades to create a cycle of continuous improvement in the dataset used for upstream review.
  • Structured data – Purchase and sale agreements and other documents follow established formats, making it easy for legal professionals, trade closers and others to easily evaluate the platform’s outputs.

Learn more about how our distressed loan trading solution works

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Experts

Patricia Tessier

Ms. Tessier is responsible for business development and operations for numerous IHS Markit technology solutions for syndicated loan markets. In her role as head of Loan Platforms at IHS Markit, she works closely with the LSTA, LMA and market participants to develop new solutions that address cost and risk challenges in the loan markets. Ms. Tessier joined IHS Markit in 2012. Previously, she managed loan trade closing teams for Goldman Sachs in New York and London, where she oversaw the bank's involvement in loan industry initiatives. Ms. Tessier holds a Bachelor of Arts in English Literature from the City University of New York, United States.

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David Jesson

Mr. Jesson is responsible for global business development for the company's Loan Platform Business which supports the leveraged and syndicated loan markets with products such as ClearPar, Loan Reconciliation, Notice Manager, Loan Processor, Custodian Services and Loan Reference Data.Before joining IHS Markit, Mr. Jesson was Head of EMEA Loan Documentation and Closing at Bank of America Merrill Lynch (BofA) for more than seven years. Prior to BofA, he worked for more than four years at Lehman Brothers in several roles in high yield and distressed debt. Earlier in his 30-year career, he worked at Mizuho International, Calyon Asset Management and HSBC.

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John Colombini

Mr. Colombini is director of business development for IHS Markit's Loan Platforms business, which provides clients with industry-leading utilities that facilitate trade settlement, servicing and management of loan positions. In his current role, Mr. Colombini works with clients on a range of activities, including onboarding new market participants and collaborating on developments to our suite of products to meet the needs of a fast-growing asset class.Prior to his business development role, Mr. Colombini worked in operations for ClearPar and went on to drive adoption of Loan Reconciliation, onboard customers to ADFlow and raise awareness of our automation capabilities for the settlement of distressed loan trades.Mr. Colombini holds a Bachelor's degree in Financial Economics and Philosophy from the University of Maine at Orono.

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