This week we cover Is All Fair in Love and Bankruptcy? Defaults and Docs; LIBOR (Trigger Warning!); Delaware LLCs
While lenders have been focused on retail woes all year, last week’s bankruptcy filing of Toys ‘R’ Us intensified the attention on the sector specifically – and on credit quality and protections in the loan market generally. First, the WSJ and Reuters reported that the 2005 LBO debt load made fixing Toys’ secular retail problem nearly impossible. Next, on the bankruptcy news, Toys’ debt dropped dramatically, as chronicled by LCD and charted in the LSTA Chart of the Week.
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