News & Analysis as of

Financing Credit

White & Case LLP

Private credit leans on PIK flexibility in competitive market

White & Case LLP on

In the face of intensifying competition from the broadly syndicated loan market, private credit lenders are leveraging their ability to provide payment-in-kind flexibility to secure deals - Private credit lenders in the US...more

Mayer Brown

The Spectrum of Loan Portfolio Backleverage Options: A Primer for Private Credit Funds

Mayer Brown on

EXECUTIVE SUMMARY - There is a spectrum of potential financing structures for a private credit fund (a “Credit Fund”) to obtain liquidity, including at various levels in the fund structure, such as at the fund level or by...more

McGlinchey Stafford

Credit, Tips, Obligation to Pay: CFPB Proposed Interpretive Rule Seeks to Clarify Earned Wage Access and Regulation Z

McGlinchey Stafford on

On July 18, 2024, the Consumer Financial Protection Bureau (CFPB) issued notice of a proposed interpretive rule (Rule) that walks back a prior 2020 Advisory Opinion on the manner in which Regulation Z defines “credit.” The...more

Cadwalader, Wickersham & Taft LLP

Give Me Some Credit July 2023 - Can I Get Some (Credit) Support?

With the recent wave of displacements occurring in our industry, we have been fielding a higher level of calls from clients looking for a “cheat sheet” that they can pass along to their new credit officers who have varying...more

Proskauer Rose LLP

Private Credit Deep Dives – Leverage Covenants and Auto-Resets

Proskauer Rose LLP on

As the private credit industry has relentlessly expanded and the capital available for deployment by private credit asset managers has rapidly grown, those investing at the top end of the market have increasingly had to...more

Cadwalader, Wickersham & Taft LLP

Let’s Be Direct January 2023 | Issue No. 208 - The Corporate Collateral Package in Subscription Facilities: A Share Peg in a Round...

Those in the subscription credit market will likely be familiar with traditional collateral arrangements over the capital call rights of Cayman funds formed as exempted limited partnerships (ELPs). Recently, however, we have...more

Cadwalader, Wickersham & Taft LLP

‘I’ll Be There for You’ December 2022 | Issue No. 203 - Fund Finance Credit Availability in 2023: Not Just Banks

As remarkable as the year has been for banks, 2022 will be remembered in part for the continued ascent of private credit. The scale and significance of these non-bank lenders became clear this summer when private credit funds...more

Lowenstein Sandler LLP

This is Really Funny…On Our Way to The Bankruptcy Court

A company commences a Chapter 11 bankruptcy case, obtains “debtor in possession” financing and then asks its vendors for more unsecured credit because (according to the debtor) the debtor just got lots of new financing and...more

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