Emilie Condie

Associate

Overview

Emilie Condie is an associate in the London office of Crowell & Moring. She specializes in distressed debt and claims trading and lending transactions. Emilie represents investment banks, broker-dealers, hedge funds, and other financial institutions on their purchase and sale of domestic and international par and distressed loans, bonds,  and other debt and equity instruments, with a particular focus in French transactions.

She regularly advises U.S. and European investment funds in relation to their purchase and sale of loans, claims, bonds, and other assets made to European, including French, Belgian, English, Dutch, German, Austrian, Italian, Spanish, Luxembourgish, and U.S. borrowers in both the primary and secondary markets.

Emilie has extensive experience reviewing and analyzing investment grade and non-investment grade European and U.S. credit documentation. She focuses on the preparation and negotiation of LMA and LSTA secondary loan and claims trading documentation. Emilie also regularly advises clients in negotiating and reviewing LMA and bespoke forms of confidentiality agreements relating to a wide range of investment transactions in Europe, Asia, and the U.S.

As a fluent French speaker, she has experience with reviewing French credit documentation and transfer agreements for clients who are investing in French loans and assets.

Prior to joining the firm, she was an attorney with Kibbe & Orbe LLP. And prior to that, she worked at FieldFisher in the Derivatives and Structured Finance group, where she completed a secondment at Bank of America Merrill Lynch, and at Axiom, where she completed a secondment at BlackRock as part of a regulatory project relating to the Alternative Investment Fund Managers Directive (AIFMD).

Career & Education

|
    • University of York, B.A., 2010
    • The College of Law, York, Graduate Diploma in Law, 2011
    • The College of Law, York, LPC, 2010
    • University of York, B.A., 2010
    • The College of Law, York, Graduate Diploma in Law, 2011
    • The College of Law, York, LPC, 2010
    • England and Wales
    • England and Wales
  • Professional Activities and Memberships

    • Member, Loan Market Association (LMA)

    Professional Activities and Memberships

    • Member, Loan Market Association (LMA)
    • French
    • French

Emilie's Insights

Client Alert | 11 min read | 07.22.24

Transformations in Transferability: Challenges in the European Loan Market Amid Increasing Restrictions

In the ever-evolving landscape of English law credit agreements in the European leveraged loan market, the dynamics of lending have undergone significant transformations in the last few years. One issue that has gained prominence is the increase in limits on the ability of lenders to transfer their loans and the associated restrictions imposed on potential new lenders. European syndicated loan agreements have historically included a standardised and expected set of transfer restrictions applicable to prospective lenders, reflective of the market guidance and templates issued by the Loan Market Association (“LMA”). Certainty of terms and the capability of an existing lender to sell out of a loan position have been the hallmark (and expectation) of the LMA loan market. However, trends in the drafting of credit agreements have contained a concerning increase in limitations on loan liquidity. As a result, many lenders are finding it difficult to sell their distressed loans. This article explores these trends, as well as their implications on the secondary loan trading market....

Emilie's Insights

Client Alert | 11 min read | 07.22.24

Transformations in Transferability: Challenges in the European Loan Market Amid Increasing Restrictions

In the ever-evolving landscape of English law credit agreements in the European leveraged loan market, the dynamics of lending have undergone significant transformations in the last few years. One issue that has gained prominence is the increase in limits on the ability of lenders to transfer their loans and the associated restrictions imposed on potential new lenders. European syndicated loan agreements have historically included a standardised and expected set of transfer restrictions applicable to prospective lenders, reflective of the market guidance and templates issued by the Loan Market Association (“LMA”). Certainty of terms and the capability of an existing lender to sell out of a loan position have been the hallmark (and expectation) of the LMA loan market. However, trends in the drafting of credit agreements have contained a concerning increase in limitations on loan liquidity. As a result, many lenders are finding it difficult to sell their distressed loans. This article explores these trends, as well as their implications on the secondary loan trading market....