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Proskauer’s Private Credit Default Index Reveals Rate of 1.84% for Q1 2024

NEW YORK, April 23, 2024 – Leading international law firm Proskauer today announced a 1.84% overall default rate for Q1 2024 for loans in its Private Credit Default Index (the “Index”). The Index tracks senior-secured and...more

LIBOR Transition Update

This LIBOR transition update, directed primarily at private credit lenders, provides a recap of recent trends and reflects new developments on the eve of LIBOR transition for banks, including new SOFR issuance by private...more

[Ongoing Program] Private Credit Summit 2021 - February 25th, 9:30 am ET

From February 23 – March 18th Proskauer will host its second annual Private Credit Summit. This interactive virtual event will bring together leaders in the Private Credit industry, including lenders, private equity firms,...more

2020 Annual Review and Outlook for Hedge Funds, Private Equity Funds and Other Private Funds

This yearly report provides a summary of some of the significant changes and developments that occurred in the past year in the hedge fund and private equity spaces, as well as certain recommended practices that investment...more

LIBOR Update: IBA Announcement Expected

This bulletin provides a timely update on two emerging issues related to LIBOR transition – namely, requirements that administrative agents (including private credit lenders acting in that role on their facilities) may be...more

Preferred Equity PIPEs Provide Flexibility in the Age of COVID-19

PIPEs (private investments in public equity) provide investors and public companies with a flexible vehicle for bespoke capital solutions that can be executed quickly in the volatile markets that have arisen in the COVID-19...more

Structured Preferred Equity – A Versatile Tool in the Debt Restructuring Toolbox

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

LIBOR Replacement Update

As most market participants are aware, in 2017, the Financial Conduct Authority (FCA), a financial regulatory body in the UK, announced that LIBOR would be phased out. The announcement was made, in part, in recognition of the...more

Growth in Third Party Preferred Equity Financing — Flexibility Leads the Way

The trend of direct lenders providing preferred equity financing to support sponsors and operating companies has only accelerated in the two years since we first wrote on the topic. Preferred equity instruments in general...more

Proskauer’s Second Annual Survey on Trends in Private Credit Markets

We are delighted to share with you the results from our second annual Trends in Private Credit survey. This year’s survey was conducted via web from January 9th to February 9th 2018. In this report, we will share...more

The Emergence of Third Party Preferred Equity as a Financing Device

Increasingly, buyout sponsors are turning to third party preferred equity as a financing tool for their transactions. Structured to be treated as equity for debt rating agencies, bank regulatory regimes and in-place debt...more

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