Covenant Review

The Bottom Line: Borrowers and issuers have been engaging in “Liability Management Transactions” with increasing…

Overview In large cap syndicated leveraged loans, there are often changes made to the credit…

Covenant protections for new-issue private credit loans (PCs) flatlined in 2023 compared with 2022 even…

The Bottom Line:™ During the syndication of leveraged loans, lenders often ask for the inclusion…

The Bottom Line:™ Borrowers and issuers have been engaging in “Liability Management Transactions” with increasing…

Covenant protections for new-issue private credit loans (PCs) have improved in 2023 amid tighter lending…

Securing “Serta” protections—which fortify affected lenders’ voting rights—has become a focus for lenders over the…