This chapter explores the concept of first out last out structure in direct lending deals, explaining the differences between cheaper first out debt and more expensive last out debt. It also explores the pricing and appetite for this structure among direct lending funds.
In the latest installment in our Covenants Conversations podcast our Head of EMEA Covenants Shweta Rao speaks to Benoit Lavigne and John Burge from Morrison and Foerster on the evolution of direct lending structures, trends, documents and potential future developments.
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