From Q1-Q3 of 2023, the U.S. loan market was marked by novel deal patterns and uneven market activity. Initially, the bulk of deals were portfolio work, including amend & extend transactions, covenant relief amendments and...more
General market unease in the first fiscal quarter of 2023 was evident. The back-to-back collapse of two regional banks spooked investors and the effects of two federal rate increases rippled through the market. Uncertainty in...more
While mergers and acquisitions, and attendant financings may not be at a blistering pace globally, the prognosis for deal activity in the healthcare sector remains healthy, in particular as the consolidation of providers, the...more
6/15/2023
/ Centers for Medicare & Medicaid Services (CMS) ,
Department of Health and Human Services (HHS) ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
Food and Drug Administration (FDA) ,
FTC Act ,
Generic Drugs ,
Health Care Providers ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
Inflation Reduction Act (IRA) ,
Investment ,
Life Sciences ,
Medical Technology Companies ,
Medicare ,
Non-Compete Agreements ,
OIG ,
Prescription Drugs ,
Restrictive Covenants ,
Vertical Mergers
Background-
On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB) and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for SVB....more
3/13/2023
/ Agents ,
Bank Deposits ,
Banks ,
Board of Governors ,
Borrowers ,
Credit Agreements ,
Default ,
FDIC ,
Lenders ,
Line of Credit ,
Receivership ,
U.S. Treasury
In 4Q22, volatile market conditions persisted, including high inflation, rising interest rates, recession anxiety and geopolitical uncertainties. The impact of these conditions was reflected in decreased loan market activity,...more
The U.S. loan market continued to cool in the third quarter, amid an uncertain economic outlook. Geopolitical risks, rising interest rates and a continued threat of recession have caused lenders to focus on credit quality as...more
Direct lenders need to be strategic about higher default rates, according to partners William Brady, Kris Hansen, and Jennifer Yount-
William Brady: Direct lenders are facing challenges on two fronts: they are under...more