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Drop It Like It’s Debt: A Canadian Guide To Liability Management Exercises – Part I
Liability management exercises (LMEs) enable borrowers to restructure debt outside formal insolvency proceedings by exploiting flexible loan documentation. As Canadian companies increasingly access U.S. debt markets with permissive covenant packages, understanding drop-down, uptiering, and double-dip structures becomes essential for lenders seeking to protect their interests.
Canada Finance
ML
McMillan LLP
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