Matthew Levy

Proskauer Rose LLP

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Private Credit Restructuring Trends: No AAL, No Problem?

Bankruptcy Considerations for Unitranche Transactions with Super-Priority Revolvers without an AAL - Unitranche debt is not new to the private credit market. It has, however, evolved over time. In the earlier years of the...more

1/8/2024 / Chapter 11 , Creditors , Debt Restructuring , Enforcement , Post-Petition Interest

LIBOR Transition Update

This LIBOR transition update, directed primarily at private credit lenders, provides a recap of recent trends and reflects new developments on the eve of LIBOR transition for banks, including new SOFR issuance by private...more

12/30/2021 / Banks , Borrowers , Consumer Financial Products , Credit Facilities , Financial Regulatory Reform , Financial Services Industry , Interest Rates , Lenders , Libor , Secured Overnight Funding Rate (SOFR)

LIBOR Update: IBA Announcement Expected

This bulletin provides a timely update on two emerging issues related to LIBOR transition – namely, requirements that administrative agents (including private credit lenders acting in that role on their facilities) may be...more

2/10/2021 / Alternative Reference Rates Committee (ARRC) , Banking Sector , Consumer Financial Products , Credit Agreements , Financial Conduct Authority (FCA) , Financial Institutions , ICE Benchmark Administration (IBA) , Libor , Transitional Arrangements

LIBOR Replacement Update

As most market participants are aware, in 2017, the Financial Conduct Authority (FCA), a financial regulatory body in the UK, announced that LIBOR would be phased out. The announcement was made, in part, in recognition of the...more

1/23/2020 / Banking Sector , Credit Agreements , Financial Conduct Authority (FCA) , Financial Institutions , Financial Regulatory Reform , ISDA , Libor , Loan Syndication and Trading Association (LSTA) , Secured Overnight Funding Rate (SOFR) , Syndicated Loans

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