Commentary
The Case for Covenants (Part Three)
At a recent debt conference we did what most of our direct lending colleagues are doing these days: complain. Speaking with…
Read MoreThe Case for Covenants (Part Two)
An astute Lead Left reader appreciated the first part of our special series on covenants. He alerted us to a…
Read MoreThe Case for Covenants (Part One)
It’s a fact of life in leveraged lending that terms are market-driven. During periods of excess liquidity – when loan…
Read MoreTwo Way Street
“We can do this the easy way or the hard way.” “What’s the hard way?” “It’s harder. It’s harder than…
Read MoreElements of Corporate Risk (Last of a Series)
As we wrap up our special series on corporate risk, let’s review the elements we’ve covered. We began with integration…
Read MoreElements of Corporate Risk (Fifth of a Series)
Being in an industry prone to litigation is one of the trickiest corporate risks to manage. For one thing, lawsuits…
Read MoreElements of Corporate Risk (Fourth of a Series)
In astronomical terms, it was a close call. Last Wednesday an asteroid almost a mile long passed within 1.1 million…
Read MoreElements of Corporate Risk (Third of a Series)
Last week’s column attracted the attention of one of our most loyal readers, and an astute observer of the credit…
Read MoreElements of Corporate Risk (Second of a Series)
It’s hard to believe, but this July marks the ten-year anniversary of the collapse of Bear Stearns’ two sub-prime hedge…
Read MoreElements of Corporate Risk (First of a Series)
Institutional investors are combing through the private credit market searching both for higher returns and experienced managers to deliver those…
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