European and US leveraged finance markets faced a shake-up in July, with underwriters shouldering billions of dollars of unplaced debt, while other deals had terms revised to attract jittery investors. In particular, covenant-lite (cov-lite) loans, a form of leveraged financing that places less financial restrictions on borrowers, have undergone a repricing since mid-July.
The loans are now being offered at a premium of up to 100 basis points compared with traditional covenant loans. Until mi
The week on Risk.net, July 7-13, 2018Receive this by email