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Double Luxco Webinar:
Covenant Review X Loyens & Loeff

Monday, September 18th 2023, 15:00 pm (BST)

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Event Details

Monday, September 18th
Online Webinar
15:00 pm – 16:00 pm (BST)
Special Situations / Primary

European Leveraged Lending: Strengthening security and improving restructuring solutions via Double Luxcos

With special situations the prime focus of the European leveraged finance market, together with investors in A&E and new money opportunities seeking to bolster their transaction security against European borrowers, Covenant Review has seen a comeback of double luxco structuring as well as investor focus on these structures, how they work to improve lender enforcement rights, and how they have been used in practice in a distressed scenario.

With this in mind, we are delighted that Loyens & Loeff will be joining us for a topical webinar to present:

  • What is a double luxco and how it can help to improve recoveries?
  • Recent trends and examples of its use in the distressed and restructuring market.
  • Pitfalls of a Luxembourg security enforcement – what to watch for?
  • Double luxcos in the context of the covenant package as a whole.

If you have any questions, reach out to the events team at


European Head of Research at Covenant Review

Jane Gray

Jane is a dual-qualified solicitor with more than 15 years of experience in the European leveraged finance market, having worked on leveraged finance documentation through multiple credit cycles, including on the first "cov-lite” loan in Europe. Jane practised law at Dentons and Lovells, and as an in-house lawyer at Credit Mutuel - CIC specialising in European syndicated loans and direct lending. Before joining Covenant Review in 2015 to build its European research products, Jane was Head of Legal at DebtXplained, building both their loan and high yield bond platforms. Jane now serves as the Head of European Research, covering the high yield bond and leveraged loan markets in Europe, and providing covenant analysis to the investor community on the largest top-tier sponsor deals coming to market. She represents Covenant Review on the Board of the High Yield Division of the Association for Financial Markets in Europe and as a member of the Loan Market Association.
Head of Banking and Finance, Luxembourg and Co-Head of Global Restructuring Practice, Loyens & Loeff

Anne-Marie Nicolas

Anne-Marie Nicolas, partner, heads Loyens Luxembourg Banking & Finance practice and co-heads our Luxembourg Restructuring practice. Anne-Marie focuses on secured lending, including acquisition finance, real estate as well as distressed financings, security enforcements and debt restructurings.