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The Leveraged Lending Guidelines are in an uncomfortable state of limbo. After the GAO ruling that the Guidelines are a “rule” under the Congressional Review Act, they are no longer ...
Or, Some Perspective on Indenture Language Restoring the Commercial Understanding of “Make-Whole” Premiums That Prevailed Before Summer 2016
A covenant review service recently procla...
Companies will often enter into interest rate swap agreements in order to hedge their exposure to interest rate risk stemming from floating-rate debt. These hedging arrangements are desig...
On August 8, 2014, The Loan Syndications and Trading Association (“LSTA”) published in final form its latest iteration of the Model Credit Agreement Provisions (the “2014 MCAPs”),...
The extensive commentary provided to date on the proposed credit risk retention rules (the “Proposed Rules”) under the Dodd-Frank Act raises significant concerns that are critically i...
In a January 2010 memorandum titled “Acquisition Financing in 2010 - Trends from 2009”, we considered the state of acquisition finance in 2009 and drew some tentative conclusions abou...
The loan markets began 2009 in the shadow of the credit crunch that began in the summer of 2007 and escalated to a credit meltdown in the fall of 2008. The average secondary bid for insti...
On November 24, 2009, Judge James M. Peck of the United States Bankruptcy Court for the Southern District of New York issued a significant decision [1] in the ION Media Networks, Inc. ban...