Push and Pull Dynamics of Liability Management in 2021

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The chapter explores the voting capabilities of CLOs and how it drives innovation in CLOs and bond land. It discusses the use of exchange offers, tender offers, and synthetic exchange to adjust maturities without causing distress. The chapter also emphasizes the importance of maintaining good relationships with investors and avoiding aggressive strategies in liability management.

Primary markets are not as simple as they used to be. How can borrowers navigate the choppy waters of today’s credit markets to manage their liabilities?

In this week’s episode of the Cloud 9fin podcast, Brian Dearing chats to Andy Hagan, Tom Richards and Gilles Teerlinck of Weil, Gotshal & Manges to get the lowdown on how companies are dealing with a challenging market backdrop.

They discuss confronting volatility, the ins and outs of equity injections, and the difficulty of executing amend-and-extends when CLOs are out of reinvestment.