The Advisory summarizes the key features of the two main types of LMTs that have been prevalent in our market -- the drop-down financing and the uptiering transaction – as well as some recent structures commonly referred to by market participants generically as “double dip” financings. The Advisory now includes a discussion of the 2024...
The LSTA, the trade association for the corporate loan market, today released representative liability management transaction (“LMT”) protections for credit agreements in private corporate credit. LMTs have become more prevalent this year across the corporate loan market. LMTs – and the credit agreement provisions that enable them – have come into particular focus in private...
At last week’s LSTA Annual Loan Conference, one intrepid panel set forth to try to quantify the risk and return of liability management transactions (LMTs).
Following on from the first webinar in this series presented on September 29th, our panel of experts will do a deep dive into the liability management transactions which have been in the press lately, including Trimark, Boardriders, and Serta Simmons. Presented by Meyer Dworkin, Partner, Davis Polk & Wardwell LLP, Jason Kyrwood, Partner, Davis Polk...
Following on from the first webinar in this series presented on September 29th, our panel of experts will do a deep dive into the liability management transactions which have been in the press lately, including Trimark, Boardriders, and Serta Simmons. The replay done by Meyer Dworkin, Partner, Davis Polk & Wardwell LLP, Jason Kyrwood, Partner,...
Over the past few years borrowers have used aggressive and controversial distressed liability management techniques like “dropdown” (J. Crew) or “uptiering” (Serta Simmons) structures. In this webinar lawyers from Davis Polk dive deeply to explain how they work. Presented by Meyer Dworkin, Partner, Davis Polk & Wardwell LLP, Jason Kyrwood, Partner, Davis Polk & Wardwell...
Over the past few years borrowers have used aggressive and controversial distressed liability management techniques like “dropdown” (J. Crew) or “uptiering” (Serta Simmons) structures. In this webinar lawyers from Davis Polk dive deeply to explain how they work. Presented by Meyer Dworkin, Partner, Davis Polk & Wardwell LLP, Jason Kyrwood, Partner, Davis Polk & Wardwell...
