Articles by author
“High Water” mark EBITDA provisions: should lenders fight fires with a pre-agreed “low water” mark EBITDA de minimis?
In this article Michelle Gilmore-Parry considers what “high water” mark EBITDA provisions are and discusses the key considerations lenders and practitioners should take into account when reviewing leveraged finance and private credit documentation.
6 MAY 2025The asset sales covenant: sometimes when it’s there it’s barely there at all!
In this article Michelle Gilmore-Parry explains how the asset sales covenant in top-tier European leveraged financings has evolved and discusses the key considerations for lenders when reviewing the asset sales covenant and related definitions in leveraged finance documentation.
22 NOV 2024The rise of “hybrids” in the ever-converging PIK and Preferred Equity landscape
In this article the authors consider the key structural, economic and documentary differences between Holdco payment in kind and preferred equity shares and consider recent demand for new hybrid instruments.
1 JAN 2024
