Navigate the Evolving Landscape of Liability Management

In the past 15 years, the credit market has undergone profound changes—shaped by sponsor- and CLO-driven dynamics, shifting credit agreements, and a surge in liability management transactions. Join experts, Dan Kamensky and Ian Feng, for an in-depth session exploring the latest trends, case studies, and market responses in liability management exercises.

Gain valuable insights from our experts on the following topics:

• Historical Trends in Credit Markets: Explore how the evolution of the loan market, with increasing sponsor and CLO dominance, has fueled the rise in distressed exchanges and exclusive opportunism.
• Sponsor-Driven Credit Terms: Understand how sponsor influence has driven changes in credit agreements—covenant-lite structures, information democratization, and aggressive new provisions.
• Distressed Exchanges & Exclusive Opportunism: Analyze landmark transactions (e.g., Serta, Mitel) and the explosive growth of creditor-on-creditor tactics.
• Creditor Pushback & Market Protections: Review recent legal decisions (Serta, Mitel) and the market’s response with innovative “blocker” provisions (J.Crew, Chewy, Envision, Double-dip, Incora, Omnibus).
• What’s Next? Discuss where the market is headed, and how new debt documentation is adapting in a post-Serta world.

Don’t miss this opportunity to gain valuable, actionable insights into the fast-changing landscape of liability management. Whether you are a lender, borrower, legal professional, or market watcher, this session will equip you to navigate complex restructurings and understand the latest market conventions. Engage directly with our facilitators during a live Q&A session.