Home Covenants

covenants

Howard Marks Oaktree video
Complacency may have crept into the private debt market. An inevitable change in circumstances will put firms to the test, says Oaktree co-chairman Howard Marks in this video.
What defines the Stateside private credit market in 2019? Our recently published US report identified the following themes.
Steven Miller and Jessica Reiss of Fitch Solutions examine the subtle changes to credit agreements that could pose a danger when today’s deals are affected by the next downturn.
The European Leveraged Finance Alliance has sent would-be investors in high yield bonds a questionnaire to encourage issuers to open up on key deal terms.
Who has been benefiting from covenant-lite leveraged loans from Australia this year?
Daniel Zwirn
Daniel Zwirn, a former hedge fund luminary and now head of investment firm Arena Investors, is one of the authors of a white paper predicting trouble ahead for, among other things, mid-market loans and leveraged loans. In this video, he explains his concerns.
Man large shadow spotlight
The EBITDA addback is one of the most worrying aspects of loan documentation. Market professionals detail how prevalent and potentially damaging it has become.
Chinese property developers now have more flexibility in cash spending, debt and investment carve-outs
pdi
pdi

Copyright PEI Media

Not for publication, email or dissemination