“Call protection” (which is referred to as a “prepayment fee”, “prepayment premium”, “call premium”, “prepayment penalty”, “non call”, “hard call”, “soft call” or “make whole”) is a core economic term in leveraged financings....more
In recent months – as credit spreads have continued to widen – sponsors, borrowers and lenders alike have frequently found themselves combing through their loan documents to check the scope of the pricing “MFN” provisions...more