December 8, 2020

Alexandra Grant and Rebecca Marques Discuss the State of Leveraged Finance Covenants in Reorg Podcast


Leveraged finance covenants have adapted to the pandemic in ways that were expected and unexpected. In this podcast, Shweta Rao, Head of EMEA Covenants at Reorg, had a wide-ranging conversation with European Leveraged Finance/Capital Markets partners Alexandra Grant and Rebecca Marques.

Topics included:

  • The impact of Covid-19 on terms in leveraged finance documents, how these terms adapted and (counter-intuitively) got even looser in primary high-yield and leveraged loan documents;
  • Key covenant developments this year - the obvious and the more obscure areas of documentation that investors need to watch out for;
  • The encouraging rise of ESG and ways of incorporating it into leveraged finance documents; and
  • The outlook and direction of travel for documentary terms in 2021.

This latest instalment of the Covenant Conversations podcast is available on Reorg, SoundCloud and iTunes