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Q1 Loan Market Update

Debt Explained has launched a quarterly research note on the leveraged loan market. Highlights of the report include:

Borrowers and sponsors are increasingly negotiating exceptions to the principle of a payment for early redemptions, eroding the standard protections available to investors.

  • Interest cover covenants out of favour compared to 2015
  • There is a move away from the premise that change of control automatically results in each lender being repaid in full
  • Ratio caps favoured among incremental facility debt basket type
About this report 

This report refers to data drawn from Debt Explained's Representative Loan Terms (RLT) database which tracks information from syndicated loans in the European leveraged loan market. The report is based upon those deals which in the market during 1 April to 30 June 2016, as indicated, and which were reviewed by Debt Explained during this period. 

RLT offers a unique oversight of the European leveraged loan market with more than 350 searchable terms. A staple resource for all leveraged finance market participants - including capital markets bankers, legal advisors and asset managers - Debt Explained data reacts to the market in real time. 

To find out more about RLT or to arrange a trial, contact us. 


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