Payback Time

One bedrock tenet of sound lending practices is establishing the borrower’s capacity to repay its debt over the contractual life…

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Two Way Street

Expectations in recent months of higher rates have caused volatility in options markets to diverge between equities and bond yields.…

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Floor Plans

“The idea that the loan market could trade the floors that exist today for additional spread is pure fantasy.” –…

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Falling Floors

As Libor rates dropped post-crisis, Libor floors on leveraged loans have followed suit, although remaining in the 100 bps range.…

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