This article addresses numerous drafting issues identified in New York-law governed direct lending transactions that have either caused borrowers to seek amendments or the presence of which have caused secured hedge providers...more
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
Competition between the private credit and broadly syndicated loan (BSL) markets is intensifying, with developments on both sides blurring the distinctions between the two products. One of these distinctive features is the...more
In the ruling decided by the United States Second Circuit Court of Appeals on Aug. 24 in Kirschner v. JP Morgan, the court upheld the District Court’s decision stating that the origination and distribution of $1.8B in...more
Notwithstanding at least some deterioration in documentation standards towards the top-end of the private credit market in recent years, maintenance leverage covenants have remained a pervasive feature of unitranche as an...more
Welcome to Goodwin's Debt Download, our monthly newsletter covering what you need to know in the leveraged finance market. We hope you’re staying warm during the winter doldrums....more