Debtwired!

Weil’s Justin Lee weighs in on LMEs amid market uncertainty

16 snips
May 15, 2025
Justin Lee, a partner at Weil, Gotshal & Manges and expert in banking and finance, shares insights on the rapidly evolving landscape of liability management exercises. He discusses how tariff-driven market fluctuations are reshaping company strategies and the increasing creativity sponsors are showcasing. Lee also explores trends in deal terms and the changing dynamics between borrowers and lenders, alongside the rise of cooperative groups. His take on what the future holds for LMEs is both informative and thought-provoking.
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INSIGHT

LMEs Are Strategic Long-Term Projects

  • LMEs are long-term strategic projects focused on company issues like upcoming maturities or capturing discounts.
  • Market conditions inform but don't dictate the decision to launch LMEs.
ADVICE

Plan LMEs Around Business Plans

  • Plan LMEs based on your business plan and external factors, not short-term market moves.
  • Use LMEs to gain more runway, new money, or capture discount to realize your business plan.
INSIGHT

US Market Shapes European LMEs

  • The US leads in liability management market adoption, influencing European sponsors' interest.
  • Europe is cautiously observing the US market to adapt suitable LME practices.
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