Proskauer Cautions Buyers on Covenants

Sheahan, Matthew
May 2011
High Yield Report;5/23/2011, Vol. 22 Issue 21, p25
An interview with Frank Lopez and Justin Breen, partners at the capital markets group of Proskauer, is presented. They describe how issuers and banks structure loans and bonds to relax covenants without pushing back investors. When asked about the biggest challenges facing the investment banks in terms of high yield bond markets and leveraged loan, they cite the competition among banks and the increase in dividend recaps.


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