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Covenant Review: 3Q25 Quarterly Covenant Trends in European Leveraged Loans and High Yield Bonds

Date: October 16, 2025

Presenters:

Shoshanna Harrow
Senior Director, Covenant Review

Shane Burke
Senior Director, Covenant Review

Covenant Review’s legal experts will present their analysis of the latest trends in covenant documentation observed in the European leveraged loan and high yield bond markets during the third quarter of 2025.

This comprehensive discussion will examine aggressive structuring techniques, documentation flexibility, and key market developments highlighted in Covenant Review’s latest quarterly TrendLines reports.

What topics will be covered?

  • Uncover Trends: Gain insights into the covenant patterns and developments identified by Covenant Review across European leveraged loans and high yield bonds during Q3 2025
  • Investigate Changes: Examine the evolution of covenant structures and the documentation flexibility witnessed this quarter
  • Explore Aggressive Terms: Review the most aggressive documentation provisions emerging in recent deals and understand market responses
  • Discover Key Insights: Access critical data points and analytical findings from Covenant Review’s comprehensive Q3 2025 TrendLines report

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