Covenant battle rages in HY as lawyers blamed for ramping up confrontation
Roman - stock.adobe.com
Fierce competition for clients among law firms advising borrowers and investors is stoking up disputes over loosening bond covenants, said high yield market participants in Europe this week. The number of deals pulled has already surpassed 2017 figures as a result, but both sides in the battle show little sign of giving way. Victor Jimenez reports.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts