Milap Patel Quoted by Debtwire on LME ‘Deal Away’ Proposals

Companies facing financial distress are increasingly turning to third-party lenders for rescue financing in liability management exercises (LMEs), according to a recent Debtwire article. These ‘deal away’ proposals, submitted by third-party lenders, often include a fee to cover due diligence and structuring costs, even if the company ultimately decides to return to its existing lenders.

Finance partner Milap Patel explained that, “When a borrower agrees to pay a work fee, it shows that it has a higher level of commitment to do a 'deal away,' rather than just use third-party lenders as a Plan B or Plan C.”