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Cloud 9fin

Liability Management with Andy Hagan, Tom Richards and Gilles Teerlinck of Weil, Gotshal & Manges

Apr 6, 2023
22:17
Snipd AI
Andy Hagan, Tom Richards, and Gilles Teerlinck from Weil, Gotshal & Manges discuss liability management in today's credit markets. They cover confronting volatility, equity injections, and executing amend-and-extends when CLOs are out of reinvestment. Other topics include refinancing debts, loan consent techniques, and the push and pull dynamics of liability management in 2021.
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Podcast summary created with Snipd AI

Quick takeaways

  • Navigating the volatile credit markets requires proactive liability management strategies, including refinancing options and alternative capital providers.
  • A&E transactions in the loan market, aimed at adjusting debt maturity, involve incentivizing investors and are influenced by CLOs.

Deep dives

Liability management and upcoming maturities

The podcast episode delves into the topic of liability management in the bond and loan market, specifically for pre-stress or stressed companies. With a significant amount of debt coming due in the next few years, the podcast highlights the importance of refinancing discussions and getting ahead of the curve. The conversation focuses on refinancing options, such as opportunistic buybacks, addressing capital structure through exchange or tender offers, and exploring alternative capital providers. The volatile market conditions and the need to be prepared for when a window opens are also emphasized.

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