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Buy-side Forces the Flex in 2016


Documentary terms have become central to negotiations between investors and arrangers/sponsors and are having a greater impact on pricing; investors have stated if the senior facilities agreement for a leveraged loan reveals particularly sponsor-friendly terms that are too much to stomach for the price on offer, they will go back and renegotiate the price. The more aggressive the terms are that remain in the deal, the higher the price.

For the first time, Debt Explained provides a definitive and comprehensive view of what terms have been removed or softened in 2016 deals to make them more enticing for investors, as set out in this article and in its “Representative Loan Terms” database.
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