Sabrina Fox, CEO of ELFA:
“We are seeking to increase transparency and raise awareness of the challenges of certain covenant provisions through engagement with borrowers and private equity sponsors.”
Current market conditions have brought into focus the importance to lenders of understanding covenant protections. At ELFA, we support this need for our members in myriad ways.
Within our committees, we are seeking to increase transparency and raise awareness of the challenges of certain covenant provisions through engagement with borrowers and private equity sponsors.
With our partners, we are guiding lenders on the best way to prepare for liability management with Houlihan Lokey and our Platinum Covenant Partner, Covenant Review who recently presented an analysis on creditor-on-creditor aggression.
For juniors, we’re running our ELFA Academy for the third straight year, providing credit and covenant analysis foundations for those starting out in their careers.
We are taking a multi-pronged approach to a multi-faceted issue, as we do with all of the challenges we tackle with and for our members.
We would be delighted to hear from you about other ways we can support the market after a decade of increasing covenant complexity. Please get in touch with your ideas and any questions.