Summary - On 14 March 2022, the ICSDs will introduce a new DVP settlement model for new-issue syndicated notes. The changes will impact the roles of the ICSDs, lead manager and common depositary in the payment flows and...more
Chinese real estate lenders lift APAC high yield bond issuance after an active Q3 - Leveraged finance in APAC (excl. Japan) showed signs of recovery in Q3 2020. The high yield market drove the rebound, which was tempered...more
COVID-19 has pushed healthcare systems around the world to the limit, but depending on the vertical, certain companies have been less affected than those in other sectors—and the availability of credit to battle the pandemic...more
The coronavirus pandemic has had an unprecedented impact on many businesses, including those with outstanding high yield bonds. The incurrence covenant regime (and absence of any maintenance covenants) means that, provided...more
The impact of the coronavirus pandemic saw high yield bond issuances grind to a halt at the end of Q1, but markets started to revive in Q2. After enduring a steep and sudden decline at the end of Q1 that effectively shut...more
As the world continues to adapt to the COVID-19 pandemic and its effects on humanity as well as economics and finance, market participants are increasingly focused on potential liquidity issues and debt incurrence capacity of...more
An issuer of high yield bonds is subject to a number of different ongoing reporting obligations, some of which are contractual and some of which are regulatory. As part of the transaction process, issuers should take these...more
European Leveraged Finance Alert Series: Issue 3, 2019 - Investors in high yield debt expect protections to be included in documentation in order to prevent bond issuers from taking certain actions that deteriorate credit...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
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