Investors

Long dealt a bad hand in documentation, investors may have assumed that the global pandemic would make borrowers less demanding. Their raised hopes could well be dashed.
Funds seeking to take advantage of the dislocation opportunity don’t need to have flashy bells and whistles.
More than half of the participants in Accord Fund III B are new to the strategy.
It was widely predicted that the market downturn would profoundly alter behaviour in leveraged finance, but then along came EBITDAC as a reminder of the past.
Changes to financial hardship provisions have seen members affected by covid-19 withdraw significant sums, with the largest funds and those with membership cohorts in struggling industries the hardest-hit.
As an example of the practice surfaces, an industry body is warning other companies not to use the covid-19 outbreak as an excuse to try and raise additional finance through flexible documentation.
A new report from bfinance predicts capital raised by credit fund managers may grow this year on the back of an increase in distressed and opportunistic approaches.
The committee recommended redeploying the non-US mandate to Crescent Capital, another manager the system approved for the private credit program.
Why determining appropriate leverage levels is challenging, the current crisis is not quite like the GFC, and direct lenders are preparing for a busy period.
The covid-19 crisis is prompting portfolio re-evaluations and alternative assets are of particular interest, according to a bfinance report.
pdi
pdi

Copyright PEI Media

Not for publication, email or dissemination