A “double-dip” structure is considered a way to allow some creditors to have multiple claims against key obligors arising out of the same underlying transactions. These additional claims could improve their position relative...more
The Situation: The economic crisis caused by COVID-19 has triggered an unprecedented response from European governments to support their economies with government-backed financial support....more
In recent years, market participants have watched with interest from across the Atlantic as U.S. out-of-court liability management and restructuring transactions moved material assets out of the creditors' collateral pools,...more
The economic crisis caused by the spread of the coronavirus triggered an unprecedented response from European governments to support their economies with various measures of support.
This overview summarizes the various...more
7/6/2020
/ Business Interruption ,
Coronavirus Large Business Interruption Loan Scheme (the CLBILS) ,
Coronavirus/COVID-19 ,
EU ,
European Commission ,
Infectious Diseases ,
Member State ,
Public Health Emergency ,
Relief Measures ,
State Aid ,
State of Emergency
Key Points -
Holdco PIK financing instruments may present an attractive and/or alternative source of capital for private equity sponsors to finance acquisitions or to facilitate dividend recapitalisations.
Creditors...more