Add-On Acquisitions in Lower Middle Market Private Equity
While the second quarter of 2020 continued a COVID-propelled downward trend in M&A deal activity, there was a sharp increase in the proportion of sponsor-backed “add-on” acquisitions relative to overall deal volume.
Negative Covenants in Lending Transactions
In corporate loan agreements, negative covenants are restrictions and prohibitions that are designed to preserve the credit of the borrower as it was when the lender initially made its underwriting decision.
Loan Agreement Considerations in the COVID-19 Environment
During this unprecedented time, most corporate borrowers are facing a significant decline in revenue and liquidity resulting from the impact of the COVID-19 pandemic. In light of this, borrowers and lenders must consider multiple issues under their loan agreements. Borrowers […]