The new breed of transfer restrictions in leveraged lending transactions: a new paradigm or just a sign of the times?

The new breed of transfer restrictions in leveraged lending transactions: a new paradigm or just a sign of the times?

European leveraged lending practitioners will need no telling that documentary terms have been something of a one-way moveable feast for a number of years. Be it a function merely of investor demand for assets exceeding available opportunities or of an influx of a new breed of investor, a new normal of lower pricing, higher leverage and weaker covenant protection has become established across almost all levels of the market. The latest area of leveraged lending documentation to go through a process of revisionism is the extent of a lender’s right to transfer its participation in a loan facility to another institution.

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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.