In 9fin’s three-part series on The Americanisation of European LMEs, our New York Partner, Duane Loft, discusses the growing use of liability management exercises for European issuers and how some recent transactions “have gone back to the much harsher forms of less inclusive LMEs,” which often result in litigation.
Duane is quoted as observing: “In the old days of up-tiering, the excluded lenders just woke up one morning completely primed, stripped, or worse.” Going forward, he sees the “European market [evolving] to more inclusive deals.”
Read more here.
