Davis Polk partner Ken Steinberg, counsel Timothy Oyen and Chris Robertson and associate Daniel Feit authored “Key developments and trends in DIP financing (2025/2026)” in Thomson Reuters’ Practical Law. In the article, the authors discuss the recent surge in volume and size of debtor-in-possession (DIP) financings, the evolving characteristics of these arrangements, the strategic elements and controversial aspects of modern DIP lending, and the growing use of innovative structures like DIP-to-exit facilities and equity conversions. 

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