Clifford Chance

Coronavirus: Leveraged Finance - Considerations for New Financings in the Current U.S. Market

April 20, 2020

As the Coronavirus pandemic continues to strain most industry sectors, many companies are experiencing some form of distress and are in need for liquidity. At the same time, many lenders are eager to deploy capital in an environment where they can demand favorable terms. As these needs have converged and other sources of liquidity have faded away, parties are seeking creative ways to raise new financings that can meet the desires of both borrowers and lenders. This briefing discusses the race to find capital among the traditional sources available to borrowers and, in particular, highlights key considerations for financial participants looking to structure and/or fund into new term loan financings in the current market.

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