UK:
"The LMA: 25 Years In The Loan Market" - Chris Kandel And Matthew Dunlap Discuss The Development Of The European High Yield Market
29 March 2022
Morrison & Foerster LLP
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The Loan Market Association recently published a book titled
"The LMA: 25 Years in the Loan Market", honoring its 25th
anniversary analyzing the development of the syndicated loan market
since the LMA's inception. Matthew Dunlap and Chris Kandel,
London-based finance partners at Morrison & Foerster,
contributed a chapter titled "The Development of High Yield
Documentation". They reflect on the history of the evolution
and drivers of the European high-yield notes market, along with
current trends and future outlook. Specific areas covered
include:
- The growth of the European high-yield market
- The evolution of 'super senior' and
'pari-passu' structures
- The variation of terms with regards to LMA high-yield documents
over time
- Market developments such as the recent acceptance of
'future-proofing' intercreditor agreements.
Download the chapter and access a
full copy of the book.
Because of the generality of this update, the information
provided herein may not be applicable in all situations and should
not be acted upon without specific legal advice based on particular
situations.
© Morrison & Foerster LLP. All rights reserved
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