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
Borrowers and lenders alike may be forgiven for running out of steam when, having negotiated ever more complex commercial grids, term sheets and loan agreements, one reaches the final line item – the governing law of the loan...more
Side letters document bespoke arrangements between all or certain parties to a financing transaction and supplement the terms of the principal documents thereto. Becoming increasingly popular with stakeholders, and with the...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
European leveraged finance in 2023 was saddled with the negative effects of elevated interest rates. But as the market adjusts to the “new normal”, rate and price stability offer hope for a brighter 2024.
-Rising interest...more
1/30/2024
/ Acquisitions ,
Banking Sector ,
Buyouts ,
Debt ,
Debt Market ,
EU ,
Financial Institutions ,
Interest Rates ,
Investment ,
Leveraged Finance ,
Loans ,
Mergers ,
Private Equity ,
Refinancing