Liability Management Webinar Series: Ep3. Double-Dips and Other LMT Strategies

Presenters:
Anthony P. Canale, J.D., Global Head of Research, Covenant Review
Scott Josefsberg, J.D., Head of U.S. High Yield Research, Covenant Review
Ian Y. Feng, J.D., Senior Director, U.S. Leveraged Loans, Covenant Review
Dan Kamensky, Founder, Creditor Rights Coalition
Mark Lightner, Esq., Head of Special Situations Legal Research, CreditSights

Our three-part series will provide a comprehensive examination of the major LMT strategies employed in the market today, analyzing recent litigation outcomes, emerging transaction structures, and practical market responses. Gain critical insights to better identify risks in credit documents, understand potential recovery implications, and position yourself advantageously in today’s complex liability management landscape.

Ep3. Double-Dips and Other LMT Strategies

• Double-Dip/Pari Plus Fundamentals: Key definitions, mechanics, and strategic use of Double Dip and Pari-Plus liability management transactions.
• Case Studies: Step-by-step breakdowns of market examples including At Home, Sabre, and STG Logistics, with focus on intercompany loans, guarantees, and collateral structures.
• Market Responses: Overview of market and contractual responses such as double dip blockers, unrestricted subsidiary limitations, and investment restrictions.
• Bankruptcy History and Implications: Discussion on historical double dip cases as well as potential legal challenges going forward.
• Where Do We Go From Here: Explore the cutting edge tools of the trade for consummating LMTs as well as the evolving legal landscape.