Dangers for the unwary: intercreditor agreements, covenant lite and additional debt

In this article, David Billington and Carlo de Vito Piscicelli, both partners at Cleary Gottlieb Steen & Hamilton LLP consider the impact of covenant lite deals on European loan documentation.

They set out steps security trustees and their counsel should take, short of requiring the appointment of additional security agents for each new tranche of debt.

Click here to read the full article.

Filed Under: JIBFL

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