EHYA urges loan transparency

The European High Yield Association (EHYA) is urging sub-investment grade issuers to disclose their senior loan documents, amendments and waivers.

The move would mitigate concerns about insider dealing on non-public information – a major concern in the European loan market. “Amendments and waivers of covenants under senior loan documents are significant credit events affecting the value of an issuer’s high-yield securities,” says Insight Investment’s Craig Abouchar, chairman of the EHYA.

“This in

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