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Drop-downs, the Lycra variant

Cloud 9fin

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Understanding the Lycra Variant and Drop Down Transactions

This chapter explores the concept of a drop down transaction called the Lycra variant, where intellectual property is used to create a new SPV and refinance debt within the restricted group. The speakers also discuss how Lycra offered a sweetener by placing assets outside of the group and pledging them as collateral for the new debt.

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