Last month, a publicly traded company (the “Company”) announced the formation and capitalization of a new joint venture (the “JV”) in a deal-away transaction (i.e., not with the Company’s existing lender group). The JV...more
NEW YORK, LONDON AND PARIS, February 9, 2026 – Proskauer, a leading international law firm, today released its 15th annual Private Credit Insights Report (the “Report”), an analysis of market trends based on the Firm’s work...more
Private credit confronted a whirlwind of market forces in 2025. Tariff anxiety saw the public debt market slow to a crawl during the first half of the year, only to rally in Q3 with blockbuster M&A activity and intense...more
NEW YORK, January 26, 2026 – Proskauer today released its latest Private Credit Default Index (the “Index”), which tracks senior-secured and unitranche loans in the United States. The Index revealed a default rate of 2.46%...more
NEW YORK and LONDON, January 14, 2026 – Proskauer today shared its 2026 Trends in Private Credit report (the “Report”). The Report’s findings highlight optimism around deal activity and fundraising, tempered by heightened...more
As during the emergence of the COVID-19 pandemic in March 2020, private credit lenders today face the challenge of adapting to rapidly shifting circumstances driven by a volatile macroeconomic landscape. If past is at all...more
4/25/2025
/ Borrowers ,
Business Interruption ,
Corporate Restructuring ,
Credit Agreements ,
Debt Restructuring ,
Documentation ,
Due Diligence ,
Financial Markets ,
Lenders ,
Loan Agreements ,
Private Equity ,
Refinancing ,
Risk Management ,
Supply Chain ,
Warranties
NEW YORK and LONDON, February 3, 2025 – Leading international law firm Proskauer today shared its 2025 Trends in Private Credit report, highlighting market participants’ strong belief that 2025 is expected to be an exciting...more
2/4/2025
/ Asset Management ,
Capital Markets ,
Competition ,
Debt Financing ,
Financial Services Industry ,
Investment ,
Investment Funds ,
Lenders ,
Loans ,
Private Equity Firms ,
Risk Management
In many ways, 2024 continued existing trends in private credit: modest levels of M&A activity, competition among direct lenders to deploy capital, higher-for-longer interest rates, persistent inflation, elevated default...more
1/29/2025
/ Appeals ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Debtors ,
Lenders ,
Liability ,
Popular ,
Private Equity ,
Reorganizations
The United States Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) ruled on December 31, 2024 that Serta Simmons Bedding’s (“SSB”) 2020 uptier exchange included a transaction that, contrary to the assertions of...more
1/3/2025
/ Appellate Courts ,
Bankruptcy Court ,
Borrowers ,
Commercial Bankruptcy ,
Credit Agreements ,
Declaratory Judgments ,
Lenders ,
Liens ,
Liquidity ,
Loan Agreements ,
Loan Repayment Issues ,
Motion to Dismiss ,
Texas
Following New York State Governor Kathy Hochul’s proposal in February of this year (see our previous alert), the New York legislature passed and Governor Hochul signed a law on May 3, 2023, which significantly increases the...more
Background In November 2016, Serta Simmons Bedding, LLC and certain affiliates (collectively, the “Debtors”) entered into credit facilities which provided for (i) $1.95 billion in first lien term loans (the “2016 Credit...more
A common yet contentious liability management strategy is an “uptier” transaction, where lenders holding a majority of loans or notes under a financing agreement seek to elevate or “roll-up” the priority of their debt above...more
The SBA stopped accepting new SVO Grant applications on August 20, 2021. The SBA is currently reviewing submitted SVO Grant applications and issuing both initial and supplemental awards. As of December 13, 2021, the SBA had...more
The SBA stopped accepting new SVO Grant applications on August 20, 2021. The SBA is currently reviewing submitted SVO Grant applications and issuing both initial and supplemental awards. As of November 29, 2021, the SBA had...more
The SBA stopped accepting new SVO Grant applications on August 20, 2021. The SBA is currently reviewing submitted SVO Grant applications and issuing both initial and supplemental awards. As of November 15, 2021, the SBA had...more
The SBA stopped accepting new SVO Grant applications on August 20, 2021. The SBA is currently reviewing submitted SVO Grant applications and issuing both initial and supplemental awards. As of November 8, 2021, the SBA had...more
The SBA stopped accepting new SVO Grant applications on August 20, 2021. The SBA is currently reviewing submitted SVO Grant applications and issuing both initial and supplemental awards. As of October 25, 2021, the SBA had...more
The SBA stopped accepting new SVO Grant applications on August 20, 2021. The SBA is currently reviewing submitted SVO Grant applications and issuing both initial and supplemental awards. As of October 12, 2021, the SBA had...more
The SBA stopped accepting new SVO Grant applications on August 20, 2021. The SBA is currently reviewing submitted SVO Grant applications and issuing both initial and supplemental awards. As of October 4, 2021, the SBA had...more
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, Congress has enacted subsequent laws and the U.S. Small Business Administration (the “SBA”) and the U.S...more
The SBA stopped accepting new SVO Grant applications on August 20, 2021. The SBA is currently reviewing submitted SVO Grant applications and issuing awards. As of September 20, 2021, the SBA had made decisions on 95% of all...more
The SBA stopped accepting new SVO Grant applications on August 20, 2021. The SBA is currently reviewing submitted SVO Grant applications and issuing awards. As of September 13, 2021, the SBA had made decisions on 94% of all...more
The SBA stopped accepting new SVO Grant applications on August 20, 2021. The SBA is currently reviewing submitted SVO Grant applications and issuing awards. As of September 7, 2021, the SBA had made decisions on 93% of all...more
The SBA stopped accepting new SVO Grant applications on August 20, 2021. The SBA is currently reviewing submitted SVO Grant applications and issuing awards. As of August 30, 2021, the SBA had made decisions on 90% of all...more
The SBA is currently reviewing SVO Grant applications and issuing awards. As of August 17, 2021, the SBA had made decisions on 97% of all applications. SVO Grant program reports, which detail the number of applications...more