This chapter explores a maneuver in a deal and its potential implications for future situations, drawing parallels with a previous case. The importance of reviewing documents to grasp specific circumstances and potential issues is emphasized.
When is a change in control not a change of control? That is the question some Focus Financial lenders are asking after the company managed to finance its $7bn buyout without refinancing its existing debt.
It all hinges on the wording of the credit agreement — so for this week’s episode of Cloud 9fin, Will Caiger-Smith sat down with 9fin’s debt covenant expert James Wallick to talk about this strange situation and its possible implications.