PE sponsors eager to bring new wave of loose deal documentation
Private equity sponsors have bankers and lawyers working on deals that will seek more flexibility and borrower-friendly covenants this year. But investors are also likely to offer tougher scrutiny this year.
Sponsors want looser covenants better tailored to capture parts of the buy-side happy to pocket riskier paper this year, and will push for easier ways to sell the businesses they own, said sources.“Of course, sponsors aren’t going to behave any differently,” said a leveraged finance banker in London. ...
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