The macro-economic landscape of recent years, marked by rising interest rates and inflationary pressures, has significantly escalated borrowing costs in the European mid-market. This has prompted borrowers to explore...more
Liability management transactions which may favour a subset of creditors over another are increasingly common in the US leveraged finance markets. 2024 may be seen as the year in which these US imports began to make a real...more
In the current market, investors are increasingly considering their options in relation to the stressed and distressed credits in their portfolios. Whilst mindful of stakeholder relationships, secured lenders may, in some...more
Senior secured creditors, being the anchor creditor in the capital stack, will always be focused on ensuring their priority claim is as robust as possible, with clearly delineated capacity for 'super priority' debt. However,...more
Much has been written about the influence of US terms on European transactions and particularly the steady migration of US concepts into English law facilities agreements, resulting from the supply-demand imbalance in the...more
5/25/2019
/ Bankruptcy Code ,
Borrowers ,
Covenant Lite Deals ,
Creditors ,
EU ,
Global Dealmaking ,
Guarantors ,
High Yield Bonds ,
Intercreditor Agreements ,
International Finance ,
Leveraged Buyout ,
Leveraged Loans ,
Libor ,
Loan Market Association ,
Loan Syndication and Trading Association (LSTA) ,
Secured Debt ,
Supply and Demand ,
UK ,
United States