CARES Act (H.R. 748) -
Summary of Certain Material Provisions for Private Credit Lenders -
Note: The below is a high-level summary only and is not intended to reflect all details contained in the legislation. In...more
The unexpected emergence of the COVID-19 virus presents a wide range of new challenges and opportunities. The initial reaction of the syndicated market has been to pull back. In these times, private credit lenders act as...more
The trend of direct lenders providing preferred equity financing to support sponsors and operating companies has only accelerated in the two years since we first wrote on the topic. Preferred equity instruments in general...more
In litigation related to the Millennium bankruptcy, the trustee for the bankruptcy’s litigation trust sued the agent banks that underwrote a $1.75 billion dollar loan to Millennium, alleging that by fraudulently originating...more
We are delighted to share with you the results from our second annual Trends in Private Credit survey. This year’s survey was conducted via web from January 9th to February 9th 2018.
In this report, we will share...more
4/18/2018
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Increasingly, buyout sponsors are turning to third party preferred equity as a financing tool for their transactions. Structured to be treated as equity for debt rating agencies, bank regulatory regimes and in-place debt...more