New Language Aims to Preserve Value in Credit Agreements
Banking & Financial Services / United States / Thu 14 Jun, 2018
Secured lenders have seen the value of their collateral deteriorate in recent years. The examples of J.Crew, Claire's, and most recently, PetSmart, draw attention to provisions that enable leakage of potentially valuable collateral. Consequently, lenders have addressed relevant provisions in debt documentation for new transactions.
PetSmart's