Finance Partner Discusses Covenants in Leveraged Loan Deals on Debtwire Radio
Finance partner Alex Zeltser participated in Debtwire Radio’s “Middle Market” podcast. He discussed how loan documents’ financial covenants reflect the competition between fund managers and other lenders to meet borrower and private equity sponsor needs to win deals.
The podcast explores how the present borrower-friendly market is reflected in middle-market deals, specifically with regards to covenants and EBITDA add-backs. Mr. Zeltzer noted that “as covenant-lite loans have essentially become the norm in the bulge bracket syndicated space, middle market lenders have responded by being more aggressive in offering covenant-lite solutions to borrowers”.