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Lenders › Portfolio Managers

Cadwalader, Wickersham & Taft LLP

Striking a Balance January 2025 - Getting the Balance Right – Lender Controls Over Eligible Investments in NAV Facilities

Cadwalader, Wickersham & Taft LLP on

Introduction - NAV facilities operate by taking a portfolio of assets owned by a borrower and selecting which assets within that portfolio a lender is willing to lend against. This pool of approved assets becomes the...more

Morrison & Foerster LLP

Recent Credit Agreement Restricts Ability of CLOs to Pledge Loans and Ability of Lenders to Sell Participations on the LSTA Form

Morrison & Foerster LLP on

A broadly-syndicated U.S.-law credit agreement which closed recently includes language limiting the ability of lenders to grant pledges or sell participation interests in their loans. The language appears to be intended to...more

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