Can European companies follow in the footsteps of U.S. borrowers, and how can European investors stage an effective defence?
A series of recent liability management transactions by borrowers in the U.S. demonstrate the myriad options available to companies after years of covenant erosion. Meanwhile, some U.S. investors have rejected exchange offers, throwing a spanner in the works for the companies and their advisers.
Could these U.S. transactions pave the way for European borrowers to seek to cut obligations and raise cash in similar ways? Can European investors take a page out of U.S. investors’ playbook? How can lenders stay one step ahead of transactions that seek to impose unfavourable terms and strip valuable covenant protections?
We will discuss these issues during a panel discussion followed by a question and answer session.
Jeff Dorst, Director in the Liability Management Practice at Houlihan Lokey
Alex Kay, Partner in the business restructuring and insolvency team at Hogan Lovells
Peter Aspbury, High Yield Portfolio Manager, JP Morgan Asset Management
Ben Kovacka, Director of Credit Research, Reorg
Sabrina Fox, Executive Advisor to ELFA
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Thurs 25th June 2020
16:00 – 17:00if you have any questions, feel free to contact sabrina fox, firstname.lastname@example.org