Practical Law UK Glossary 3-382-4309 (Approx. 5 pages)
Glossary
Information memorandum
Also known as an IM or Info Memo. The meaning of the term varies depending on the context of use. For instance, in relation to:
A syndicated facility, a document prepared by the arranger for circulation to potential lenders to provide information on the borrower and the proposed loan. It typically includes:
a sample term sheet;
general information and forecasts about the borrower and its business; and
a statement limiting the arranger's liability (as far as possible) for the information contained in the document.
A bond issue, a legal and regulatory disclosure document (also known as a prospectus or offering circular) aimed at preventing investor claims that they were not given all material information, or that they were misled by the issuer. For listed issuers, the IM must conform to the rules of the relevant stock exchange or listing authority and, if applicable, the requirements of the UK Prospectus Regulation. For further information, see Practice note, Bond issues: documents: Offering document (prospectus).