Levfin investors win ‘game of chicken’ on Amer Sports loan

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By Owen Sanderson
28 Feb 2019

Loan investors succeeded in the ‘game of chicken’ in setting deal terms on the first two major new money acquisition loans in the European market this year, winning a package of concessions that could help achieve a better balance between borrowers and lenders in a market that has seen documentation deteriorate.

“I think it’s good news, documentary terms were getting out of hand,” said a head of leveraged capital markets. “Frankly, it makes my life easier, by reducing the chance that I’ll be asked to underwrite something which has all of these weak points.”

But it’s all the more ...

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