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This note provides an overview of the designated lender counsel arrangement in certain large debt issuances in which the debt arrangers’ counsel is chosen by the issuer or equity sponso...
Syndicated term loans continue to adopt selected features traditionally found in high yield bonds. The implications of this trend and the related risks are important to the credit decisio...
In negotiating debt covenants, lenders should avoid several common reclassification traps. Some are bargained for, others may be accidental. A few recent precedents reflect that in this a...
The contractual provisions relating to equity cure and excess cash flow are often negotiated and placed in various parts of syndicated bank loan documents, which lead to possibilities for...
Typical provisions for certain syndicated term loans have undergone a transformation in the last ten years, adopting some features traditionally found in high yield bonds. Investors and a...
