Articles by author
Dodgy financial reporting or financial covenant breach
In this article we consider how preservation of an agreed approach to financial monitoring and calculations for leveraged finance loans in the European mid-market is fundamental to maintain suitable protections for private credit lenders. Discrepancies in figures can raise red flags as to whether the financial reporting is simply inconsistent or whether the sponsor is attempting to hide a financial covenant breach. We discuss options available to lenders to clarify figures and request additional information.
25 JUN 2026Deconstructing delayed draw term loans
In this article we delve into the detail of delayed draw term loans. This has predominantly been a common feature in the private credit market, but lenders in the broadly syndicated loan market have started to offer the product too as competition between the two markets heats up.
6 MAR 2025
