This chapter explores the complexities of interest payments amid market uncertainty, focusing on borrower strategies for cash conservation. It also examines the differing documentation practices between Europe and the U.S. regarding structural adjustments and their effects on debt capacity.
In this episode, Reorg's Shweta Rao speaks with Morrison & Foerster’s debt finance partners Benoit Lavigne and Matthew Dunlap about a forensic analysis of creative documentary flexibilities that can be utilized in stressed situations new legal issues arising in covenant waivers, amendments and PIKing interest, pandemic-related documentary changes and a forecast for Covid-19 related covenant evolution in leveraged finance.
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