We have updated our memo on the legal architecture of the Main Street Program to reflect the expansion of the program and the revised program documents that the Federal Reserve announced ...
Davis Polk partner Jason Kyrwood authored “COVID-19: Loan Agreement Considerations for Corporate Borrowers” in a recent edition of Practical Law (Thomson Reuters). The article discuss...
The coronavirus (COVID-19) emergency has led to the debt of many companies in private equity portfolios trading at a significant discount. As a result, an increasing number of private equ...
The coronavirus (COVID-19) is having enormous impact on all of us globally. We have been getting a broad array of questions about funding options and liquidity risk management. Our alert ...
Davis Polk partners Jason Kyrwood, James Florack and Meyer Dworkin recently authored an article for the International Financial Law Review discussing some of the private equity sponsor an...
A key feature of many modern credit agreements is an “incremental” or “accordion” provision, which can allow a borrower to increase the aggregate amount of financing available und...
In a typical “term loan B” (TLB) financing, the initial lenders expect to distribute the TLB paper to investors prior to funding. But what happens when that expectation cannot be met,...
In recent months, there have been a number of important developments relating to stockholder appraisal rights in Delaware. Appraisal rights are generally available to dissenting stockhol...
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”),...
