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

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.

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About the author:

Neeta started her legal career at Allen & Overy in 2008 in the midst of the global financial crisis and the collapse of Lehmans where she gained most of her paralegal experience.

Neeta also did a short stint in litigation at the Revenue and Customs Prosecutions Office in 2006. Neeta graduated with a 2:1 honours degree from University of London, Queen Mary College and went on to obtain a distinction from the College of Law in the Legal Practice. She has been working at Lexis Nexis since April 2013.