Local Insight Restricts Trades, Stirs up Loan Market

Kellerhals, Richard
August 2010
High Yield Report;8/30/2010, Vol. 21 Issue 35, p16
The article discusses issues surrounding the decision of Local Insight Regatta Holdings to restrict lenders from trading its term loan B following an announcement that it would likely breach its loan covenants. While others argue that the move is just part of the loan market, others pointed out that it could limit investors' options in the future. The restriction to the term loan, worth 335 million U.S. dollars, was made by not allowing assignments on the debt.


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