Covenant-Lite Loans: Leveraged Lending in the Syndicated Loan Market

Analyzing Elements and Structuring Provisions of Cov-Lite Loans for Borrowers and Lenders

Recording of a 90-minute CLE webinar with Q&A

Conducted on Thursday, May 30, 2013

Recorded event now available

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Program Materials

This CLE webinar will provide banking and commercial finance counsel with an analysis of cov-lite loans, including current market conditions favoring the loans, typical provisions, and key elements. The panel will discuss the benefits and disadvantages of cov-lite loans for borrowers and lenders.

Description

Borrower-friendly covenant-lite loans have reemerged in the syndicated loan market after disappearing in the recent credit crunch. Practitioners representing both lenders and borrowers must carefully analyze new loan covenant terms and weigh the benefits and disadvantages of these loans for clients.

Current factors influencing market dynamics include low interest rates prompting debt investors to look to the leveraged market for higher yields. While typical provisions of cov-lite loans can vary, some new elements of cov-lite loans have emerged in the post-recession era.

Listen as our authoritative panel of commercial finance attorneys analyzes the reemergence of covenant-lite loans in the syndicated loan market and discusses the pros and cons of cov-lite loans for both borrowers and lenders.

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Outline

  1. Analysis of current market conditions favoring cov-lite loans
  2. Typical cov-lite provisions
  3. Elements of cov-lite loans post-credit crunch
  4. Advantages and disadvantages for borrowers and lenders

Benefits

The panel will review these and other key questions:

  • What key factors are influencing the reemergence of cov-lite loans and what borrowers are most likely to obtain cov-lite loans?
  • What elements of cov-lite loans have emerged post-credit crunch?
  • What are the advantages to borrowers of cov-lite loans and what are the disadvantages and risks?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Jamie Knox
Jamie Knox
Partner
DLA Piper

His finance practice focuses on assisting borrowers and lenders in the structuring of acquisition financings and...  |  Read More

Goodison, Eric
Eric Goodison
Partner
Paul Weiss Rifkind Wharton & Garrison

A partner in the Corporate Department and a member of the Finance Practice, Mr. Goodison represents domestic and...  |  Read More

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