The Wall Street Journal quoted finance partner Leonard Klingbaum in an article on a growing number of businesses turning to double-dip loans. The financing tool has proved helpful to refinance short-term debts and improve liquidity amid rising interest rates. Leonard discusses how the firm advises through double-dip transactions.
“You might have some lenders who are not thrilled that they are not part of the transaction,” said Leonard. “Doing it in a way that is unassailable and not punitive to other lenders is really the art of the science.”
In September, Ropes & Gray represented material manufacturer, Trinseo obtain $1.077 billion in secured term-loan financing, through a double dip loan.
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