No let-up in US loan doc loosening, say lawyers

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By David Bell
09 May 2018

Speakers at a loan industry conference in New York on Wednesday highlighted the continued erosion in the quality of investor protections in leveraged loans, a trend that many expect will make recovery rates worse when the credit cycle turns.

The trend of increasingly borrower-friendly documentation in the US leveraged loan market is showing little sign of relenting, according to market participants.

With demand for floating rate corporate debt soaring from CLOs and mutual funds, borrowers have been able to apply looser restrictions on their ability to raise ...

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