Based on a universe of 160 business development companies, Octus identified a total of $5.99 billion of debt (at cost) in nonaccrual status in the second quarter of 2025
The LSTA, the trade association for the U.S. corporate lending market, today released a report detailing data from its landmark survey on the U.S. private corporate credit market (“PCC”).
Private corporate credit lenders have been impacted by certain liability management transactions (“LMTs”) that have taken place in their market in the recent past. Although the LMTs may have been permitted under the relevant credit agreements, their increased complexity has made it more challenging for lenders at times to identify the provisions that enable them....
Climate risk and ESG has been a keen area of interest for the SEC under Chair Gary Gensler with targeted enforcement actions and unprecedented rulemakings. In March 2021, the SEC formed a Climate and ESG Task Force in the Division of Enforcement with a mandate to identify material gaps or misstatements in issuers’ ESG disclosures...
This document talks about recent decisions of interest to the lending community, including decisions on third-party releases (Purdue Pharma, Ascena, Le Centre, Markland), make-wholes (Hertz), disclosure requirement (Alix v. McKinsey), and attorneys (Golden Fleece Beverages, Summit Financial). This document is provided by Richard Levin, Partner at Jenner & Block....
This memorandum analyzes whether tokens or other similar digital assets (“Tokens”) representing interests in syndicated term loans as currently formed and traded would be considered “securities” for purposes of the definitions contained in the Securities Act of 1933 (“Securities Act”) and the Securities Exchange Act of 1934 (“Exchange Act,” and together with the Securities Act...
Working Group on Sterling Risk-Free Reference Rates (RFRWG) Top Level Priorities - 2021 1. Be fully prepared for the end of GBP LIBOR, by the end of 2021 2. Continue to enable and promote widespread use of SONIA compounded in arrears throughout wholesale sterling markets 3. By end-Q1 2021, cease initiation of new GBP LIBOR-linked...
