Covenant Review

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…