Allen & Overy: The growing role for CLOs in restructurings

Collateralised loan obligations are back in favour in financial restructurings, helped by their dominance in leveraged credits and greater flexibility in documentation, say Nick Charlwood, John Goldfinch and Tim Watson, partners at Allen & Overy.

This article is sponsored by Allen & Overy.

Historically, how have collateralised loan obligations (CLOs) been involved in restructurings?

Nick Charlwood

Nick Charlwood: To understand the context of how restructurings are evolving, you need to look at how the leveraged finance market has changed over the last 10 to 15 years.

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