Debt Financing Trends – Joe Price, Member, Corporate & Securities Practice
As growth stage companies rapidly expand there is frequently a need for additional funding to support continued growth notwithstanding that the business is not yet generating (or is only just generating) positive EBITDA....more
Despite the COVID-19 pandemic, 2020 proved that the European private debt market remains strong. A 2021 Preqin Private Debt Report revealed that there were 504 active European private debt managers in 2020, up from 443 in...more
A new precedent unitranche intercreditor agreement was published by the LMA on 17 May 2018 for use on unitranche transactions where a private credit fund is providing a facility alongside a super senior RCF. Whilst it does...more
Unitranche facilities have been a feature of the European and US markets for a number of years, and have recently been making their mark in Australia. What is unitranche? A unitranche facility is a single facility which...more
Paul Mullen is a partner in the Hogan Lovells London office. In this hoganlovells.com interview, Mullen talks about how the deal structures vary between the private debt funds and the banks, the differences in the...more
The increasing use of unitranche financing, both domestically and abroad, has created new opportunities for middle market loan participants. However, lenders must understand the legal issues and potential bankruptcy risks...more