This chapter explores the evolving legal landscape of covenant documents influenced by the COVID-19 pandemic. It discusses the need for flexibility in financial reporting and potential adjustments to financing structures to mitigate economic uncertainty while safeguarding investor interests.
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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