Publications & Events

Covenant Lite: The Rise Of A Fallen Angel

As part of the White & Case "Risk In A Recovering Market" autumn seminar series on 6 November 2014, Stephen Mostyn-Williams, Chairman and founder of DebtXplained collaborated with White & Case bank finance partners, Jake Mincemoyer, Justin Wagstaff and Lee Cullinane, in a discussion on the various issues that may arise when structuring, negotiating and investing in covenant-lite leveraged loans in both the US and European market.

  • What Is A Covenant-Lite Leveraged Loan?
  • The Transatlantic Journey Of Cov-Lite Provisions
  • The "Available Amount" Or "Cumulative Credit" Basket
  • The "101" Soft Call Provision
  • EBITDA Cures Of The "Springing" Leverage Covenant
  • Asset Disposals
  • Unrestricted Subsidiaries And The Restricted Group
  • Uncapped Acquisitions
  • Summary


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