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Covenants
Loan originator acts on behalf of as-yet unnamed lenders, in response to J Crew style restructuring.
Corporate loan trade group outlines best practices, addresses liability management transaction protections.
After slow M&A activity in 2023, private lenders are becoming more aggressive as they fall behind schedule with their deployment of capital.
They co-operate but also aggressively compete with each other. But what exactly are they compromising on and fighting over? We take a deep dive into the places where banks meet fund managers.
In a podcast published this week, a leading covenant expert and lender representative insisted private debt has no room for complacency when it comes to fair documentation.
Covenants and leverage are much tighter in loans to sponsors across the region, according to head of APAC private credit Celia Yan.
Deal activity has slowed and firms are focused on preserving value in their portfolios. It’s time to double down on the right framework and repeatable processes, according to Marc Preiser and Mikko Iso-Kulmala at Fidelity International.
Fund managers are celebrating their good fortune when it comes to new transactions, while also fearing what might lie ahead for their existing portfolios.
A second survey has backed up an existing one in identifying a declining private debt default rate. The omens for portfolio company performance are promising.
Some of private debt’s safer but lower-returning strategies may face stronger competition as interest rates rise, making opportunistic approaches more compelling. Andy Thomson canvasses the views of investors as the asset class contemplates the challenges of a new year.