This article originally appeared in the 2024 Winter Edition of Loans Magazine. Last September, the LSTA collaborated with leading member institutions from its Private Credit Markets Committee to produce the “Private Corporate Credit – Representative Liability Management Transaction Protections for Credit Agreements” chart.
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....
