Private Credit

Covenant-Lite Loans: Protections and Playbook Covenant-lite loans are senior facilities that eliminate regular financial maintenance tests and instead rely on […]

Covenant-Lite Loans: Terms, Risks, and Lender Playbook Covenant-lite loans are term loans that rely on incurrence tests instead of ongoing

Covenant-Lite in European Private Credit: Terms and Risks Covenant-lite loans remove ongoing quarterly maintenance tests and rely on incurrence covenants

Covenant-Lite Loans: Risks, Protections, and Best Practices A covenant-lite loan is a credit facility without ongoing financial maintenance tests. Instead

ESG-Linked Loan Ratchets: KPIs, Pricing, and Best Practices An ESG-linked loan is a standard credit facility whose margin moves based

ESG Margin Ratchets: Design, Pricing, Execution An ESG margin ratchet is a clause that moves a loan’s margin up or

ESG Margin Ratchets: How They Work and Why They Matter An ESG margin ratchet is a loan pricing feature that

ESG-Linked Margin Ratchets in Private Credit: A Guide ESG-linked margin ratchets tie a borrower’s interest margin to performance on environmental,

Intercreditor Agreements: Priority, Control, and Protections An intercreditor agreement is a contract that sets who gets paid first, who controls

Intercreditor Agreements: U.S. vs Europe – Key Terms An intercreditor agreement is a contract among creditor groups that sets who