GC Asia
Lenders to demand more drastic amend and extend terms
Apax and Permira’s UK fashion retailer New Look and Charterhouse’s French clothing retailer Vivarte both reached the consent thresholds required to enable them to pass through the requested amendments to their leveraged loans this week as 2012’s frantic amend and extend activity continued.
But loan investors warned that they would become much more assertive with sponsors and borrowers and would demand fundamental changes to capital structures as part of the amend and extends — as opposed to just "kicking the can down the road".
"As you move further down the credit quality ...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.
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.
