Podcast: Credit Funds: Pro Rata Sharing Provisions – Key Points for Lenders
One of the foundational provisions negotiated in almost every European leveraged loan agreement is the “Change of Control” definition and associated clauses. This provision is crucial because it directly impacts the risk...more
After the unprecedented boom of the immediate post‑COVID era, European M&A activity has slumped in recent months. Indeed, recent market intelligence from Dealogic showed that Q1 of 2023 in EMEA saw a 68% decline in M&A volume...more
Leveraged loan agreements form key aspects of capital structures, balancing lender protection against allowing the borrower to run its business according to its business plan. In recent times, the length of such loan...more
Once again, those of us in the commercial finance world are reminded of the age-old adage caveat emptor. This time the warning is directed at hedge funds and other investors with a penchant for purchasing distressed debt from...more