Carlyle seeks cov-lite amendment

Contract_fotolia_rightsize
By Sam Kerr
11 May 2017

Carlyle is attempting to get an amendment on a 2015 CLO, Carlyle Global Market Strategies Euro 2015-3, to raise the covenant-lite limits in the deal to 90% from 80%.

The amendment would bring the deal into line with a number of new issue European CLOs. Alongside the raising of cov-lite limits the manager also wants to increase the bucket for senior secured obligations to 92.5% from 90%.

Given Carlyle tends to run a fairly high level of ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.