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Reorg Radio
Covenants: A Conversation with Distressed Debt Expert Tim Alexander(June 23, 2020)
Jun 23, 2020
24:17
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The podcast delves into the impact of the pandemic on secondary credit markets, the evolution of covenants, pitfalls for investors, opportunities for distressed investors, and the push for better protection and compensation. It highlights the importance of legal review, understanding covenant complexities, financial reporting challenges, and strategies for navigating weak documentation as a distressed investor.
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Quick takeaways
- Thoroughly review documentation for investment rights and protections during volatile market conditions.
- Understanding financial capacity challenges due to calculation flexibility and lack of transparency can impact investor decisions.
Deep dives
Importance of Documentation in Secondary Credit Markets
Documentation plays a crucial role in the secondary credit markets, especially during volatile times like the aftermath of COVID-19. Investors must thoroughly review the documentation governing their investments to understand their rights and protections. The example of Olympic Entertainment in Europe highlights the significance of documentation in safeguarding bondholders' interests amid asset transfers.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode