Laments of ‘juniorisation’ as crisis measures resurface

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By Silas Brown
24 Mar 2020

Cuts made to senior staff in the debt markets are coming home to roost now that the effects of the Covid-19 pandemic are coming to bear on loans and private placements. Old hands that navigated the previous crises are in short supply as borrowers and investors look to implement deal amendments to cope with a coming recession.

Loans and private placement bankers are expecting a slew of requests for covenant amendments in the next few months, as companies struggle to stick to agreed debt metrics. There will be a raft of new work to do — work that will be alien to those who have ...

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