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Covenants

With a change in market conditions, changes in deal documentation might be expected. But shifts in the balance of power don’t always happen when expected.
A new study has revealed how pertinent information regarding a borrower’s financial health may be kept hidden from lenders, writes Andy Thomson.
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Leading asset class professionals explain their concerns (and offer reasons why things may not be all that bad).
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Global events have been so momentous that debate has shifted away from borrower/lender negotiations. This week, they were put back in the spotlight.
There is no uniform view on what should be the next reference rate for loans, but decisions will need to be taken soon.
Having exploded onto the scene in the broadly syndicated market, the impact of sustainability-linked loans is now being felt in private debt. But managers need to make sure they do not stand accused of greenwashing. By Andy Thomson
ESG and sustainability are now being worked into deal documentation, but it may take a while before the asset class is seen to be truly making a difference.
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