Once again, we reflect on the prior year for restructuring trends impacting private credit lenders. Last year it was all about “liability management”—the latest trend in which the limits of sponsor-favorable loan documents...more
1/18/2023
/ Bankruptcy Court ,
Capital Raising ,
Chapter 11 ,
Coronavirus/COVID-19 ,
Delaware ,
Interest Rates ,
Lenders ,
Liquidity ,
Loans ,
Motion to Dismiss ,
NY Supreme Court ,
Restructuring ,
Supply Chain ,
Supply Shortages ,
Ukraine ,
Vaccinations
Private credit lenders started 2020 both with anticipation and trepidation. Activity levels were strong and default levels were at historic lows, but private credit lenders worried about the risk of economic headwinds –...more
For many sponsor-backed and other highly leveraged private companies, the business impact of COVID-19 is just beginning to apply pressure to financial covenant compliance. As borrowers and private credit (or other) lenders...more
7/15/2020
/ Balance Sheets ,
Borrowers ,
Capital Markets ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Debt Restructuring ,
Investors ,
Lenders ,
Preferred Stock Financing ,
Private Equity ,
Third Party Funding
As COVID-19 sends shockwaves through the global economy, many experts are predicting one of the deepest recessions in U.S. history. The hospitality, employment services, transportation, travel, leisure, mining, and oil...more
The new $349 billion Payment Protection Program (“PPP”) administered by the Small Business Administration under the CARES Act began accepting loan applications on April 3, 2020, with more than $4.3 billion of loans processed...more
CARES Act (H.R. 748) -
Summary of Certain Material Provisions for Private Credit Lenders -
Note: The below is a high-level summary only and is not intended to reflect all details contained in the legislation. In...more
The unexpected emergence of the COVID-19 virus presents a wide range of new challenges and opportunities. The initial reaction of the syndicated market has been to pull back. In these times, private credit lenders act as...more