Not a Normal Mortgage Crisis: How the Mortgage Industry Weathered the Pandemic
European leveraged finance in 2023 was saddled with the negative effects of elevated interest rates. But as the market adjusts to the “new normal”, rate and price stability offer hope for a brighter 2024. -Rising interest...more
“How did you go bankrupt? “Two ways. Gradually, then suddenly.” - Ernest Hemingway, The Sun Also Rises Whether from internal or external factors, every company at some point will experience financial stress. The key to...more
High yield bond activity rallies in the US as borrowers pivot away from pricier leveraged loans, but European and Asian markets remain challenged US high yield bond activity sparked back to life in H1 2023 as improved...more
Parties engaging in rescue capital transactions should prepare to meet the recapitalization demands of real estate entities. Many real estate investment vehicles are suffering from an “equity gap” in their capital...more
By all accounts, leveraged finance markets in the United States were hot in the first quarter of 2021. This activity was driven primarily by refinancing and repricing. Borrowers jumped at the chance to take advantage of the...more
Abundant liquidity, a red-hot refinancing market and improving credit ratings combined through the first half of 2021 to limit defaults and ease any near-term pressure on the balance sheets of US borrowers. Borrowers...more
The financial markets are hoping collateralized loan obligations can strike back in 2021 after the menace of 2020. Our CLO team examines various mechanisms for adjusting CLO funding costs and deal terms....more
Due to the current economic downturn, many corporations (Borrowers) may find themselves in financial difficulty and need to refinance their existing debt obligations with creditors (Lenders). Such Borrowers may be able to...more
With the likely increased borrowings or refinancing of debt as a result of the COVID-19 crisis, multinational companies should consider the impact of changes in U.S. tax law made in 2018. As a result of these changes, U.S....more
We frequently represent clients who have engaged in some type of transaction with his or her spouse during the marriage that inadvertently causes them to lose certain rights to property unknowingly. This often happens in the...more
The U.S. Court of Appeals for the Second Circuit has upheld a bankruptcy court’s decision enforcing indenture language providing for the automatic acceleration, without make-whole premium, of secured American Airline, Inc....more
In an effort to summarize the highlights of the U.S. Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this...more