First published in LexisPSL Banking and Finance Mini-Mag: Autumn 2018 as distributed at the Loan Market Association Conference 2018

Many investors have voiced concerns in recent months that loan documentation terms havebecome so flexible in favour of sponsor-backed borrowers that they may lack key lender protections.

Faced with such terms, lenders’ focus has centered on the following fundamental principles: how much secured debt can be added to this deal going forward? How can I get to the table should things go wrong? Can I trade out if I need to?

In that context, we summarise below some of the hot topics in today’s market.

Continue Reading Key documentation issues in the European leveraged finance mid-market

On 4 October 2017 the ECB published an addendum to its Guidance to Banks on non-performing loans (click here to read our earlier report on the guidance).  On 5 October 2017, the EBA published its work programme for 2018 which included further work to assist in the resolution of non-performing loans. Both of these documents show the level of importance placed by EU authorities on the reduction of NPL levels held by European institutions.  Expect more “encouragement” for banks to deal, one way or another, with their NPLs in 2018.

Continue Reading Further guidance expected for NPLs in Europe