The State Of The U.S. Loan Market 1Q21
The first quarter of 2021 was a frenzy of activity in the loan market. Continued lender appetite and a tidal wave of refinancings resulted in continued covenant erosion. Lenders did have some success in pushing for anti-Serta provisions and Chewy blockers, but overall covenants took a beating. Q1 2021 hedge fund letters, conferences and more In a new report, Xtract Research highlights some of the more borrower-friendly terms that have cleared the market enough times to legitimately (and unfortunately) be called market, as well as those that just are starting to take wing. Key points from the r...