Abstract
Reviews the operation of leveraged finance documentation (LFD), the opportunities it offers, and whether it poses risks to financial stability. Examines the requirements of LFD, its use of financial covenants, and the role of the leverage, cashflow cover, and capital expenditure tests. Discusses trends in LFD, including the growth of "covenant-loose" documentation and unitranche financing, and notes key features of European Central Bank guidance.
| Original language | English |
|---|---|
| Pages (from-to) | 179-184 |
| Number of pages | 6 |
| Journal | Journal of International Banking Law and Regulation |
| Volume | 34 |
| Issue number | 6 |
| Publication status | Published - 2019 |