The J. Crew Blocker: Panacea or Red Herring?
The Bottom Line:™ During the syndication of leveraged loans, lenders often ask for the inclusion…
Sara LawalFebruary 8, 2024
U.S. Trendlines: New-Issue Spreads Narrow in November, but Terms Tighten as Mix Shifts to Corporate Loans
New-Issue Spreads Narrow in November, but Terms Tighten as Mix Shifts to Corporate Loans Loans…
Siobhan HodsonDecember 15, 2023
Liability Management Transactions: Quarterly Update Through Q3 2023
The Bottom Line:™ Borrowers and issuers have been engaging in “Liability Management Transactions” with increasing…
Siobhan HodsonDecember 12, 2023
U.S. Trendlines: New-Issue Private Credit Covenants Strengthen in YTD, with Cov-Lite Share Down
Covenant protections for new-issue private credit loans (PCs) have improved in 2023 amid tighter lending…
Siobhan HodsonNovember 9, 2023
Up-Tiering Liquidity Management Transactions, Recoveries and Broader Context: A Thought Experiment
Securing “Serta” protections—which fortify affected lenders’ voting rights—has become a focus for lenders over the…
Siobhan HodsonOctober 19, 2023