The UCC‑1 form is a staple of any secured lending practice. In the wake of the 2022 proposed Uniform Commercial Code (UCC) amendments, which have been adopted in 24 jurisdictions, many jurisdictions have updated their UCC‑1...more
In the middle of 2023, we conducted an informal, small-scale survey to gather insights from prominent non-bank lenders on their activity in the net asset value (NAV) lending market for the first half of 2023. We have expanded...more
We conducted an informal, small-scale survey during March to May 2023 to gather insights from prominent non-bank lenders on their activity over the past twelve months in the net asset value (NAV) lending market. In this...more
On March 12, 2023, in the wake of shutdowns of Silicon Valley Bank and Signature Bank by regulators in their respective states, the Federal Reserve Board announced the creation of a new Bank Term Funding Program (“BTFP”)...more
Recent press coverage has brought to light allegations of fraud in relation to a subscription credit facility made available to a fund managed by a Florida-based private equity fund manager, JES Global Capital. The...more
For private investment funds with limited or no remaining uncalled commitments, net asset value (NAV) and hybrid credit facilities can provide a useful source of liquidity to support underperforming assets or allow funds to...more
10/7/2020
/ Capital Markets ,
Coronavirus/COVID-19 ,
Credit Agreements ,
Credit Facilities ,
EBITDA ,
Investment Funds ,
Investors ,
Liquidity ,
NAV ,
Portfolio Companies ,
Private Equity Funds
For the past several years, loan market participants have been well aware of the anticipated phase-out of the London Interbank Offered Rate (“LIBOR”) as a benchmark for floating rate instruments. Based on current regulatory...more
The fund finance market has continued to grow at a fast pace in recent years. Increased demand by fund sponsors for fund-related financings has led to a large influx of new lenders. In trying to maintain or gain market share,...more
11/21/2019
/ Capital Contributions ,
Capital Raising ,
Co-Investment Rights ,
Credit Facilities ,
Creditors ,
Disclosure Requirements ,
Financial Markets ,
Fund Sponsors ,
General Partnerships ,
Limited Partnerships ,
Notice Requirements ,
Popular
On October 22nd, Proskauer associates Dan Nelson and Jin Joo received the New York City Bar Justice Center’s 2018 Jeremy G. Epstein Award for Pro Bono Service. Since November 2017, Dan and Jin have coordinated Proskauer’s...more
Overview and Methodology -
Welcome to this seventh edition of Proskauer’s Global High-Yield Bond Study, our analysis of market trends for high-yield bond offerings. Using analyses from our proprietary database of...more
5/23/2018
/ Bond Issuers ,
Bondholders ,
Bonds ,
Capital Markets ,
Collateralized Loan Obligations ,
EBITDA ,
Financial Regulatory Reform ,
Global Market ,
High Yield Bonds ,
Initial Public Offering (IPO) ,
Interest Rates ,
Investors ,
Leveraged Debt ,
Leveraged Loans ,
Voting Requirements
Proskauer’s Leveraged Finance Group has released its 2017 Global High-Yield Bond Study, which provides dealmakers, issuers and investors with an in-depth look at deal terms and trends in the high-yield bond market.
The...more