covenant-lite

Fund managers swore off so-called covenant-lite loans after the credit bubble burst in 2008, but so many investors wanted to buy into the deal that Carlyle was able to dictate terms, said people familiar with the matter.

In This Crisis, Companies Keep Selling Bonds Matt Wirz 2011

Many companies that refinanced during the market upswing or earlier got relaxed terms that investors call "covenant-lite."

Bankruptcy Risk Is a Worry Again Mike Spector 2011

So-called covenant-lite loans, which carry looser repayment terms, have accounted for 25.2% of the market so far this year, up from 5.1% during 2010 and slightly higher than the previous peak of 25% in 2007, according to Standard & Poor's.

Are 'Floating-Rate Loan' Funds Still a Smart Move? Ben Levisohn 2011

Fisher repeated remarks he made yesterday in Frankfurt that he's seeing signs of excess evidenced in the surge of so-called covenant-lite loans and the return of payouts by private equity firms.

BusinessWeek.com -- Top News 2011

Debt funds allowed private-equity sponsors to crank the leverage machine back up in the fourth quarter of 2010 with a flurry of dividend deals and covenant-lite financings that harken back to the market excesses of 2006-07.

Party Goes On in Corporates Matthieu Wirz 2011

Bull-market structures, such as covenant-lite debt or payment-in-kind toggle notes, in which borrowers can make coupon payments in fresh debt rather than cash, are making a reappearance.

The New Search for Yield Richard Barley 2011

The relatively cheaper loan may mean success for the deal, despite the aversion some have to covenant-lite obligations.

Cov-Lite Loans Make a Return Katherine Greene 2010

For the second time in a week, Lyondell Chemical Co. flexed its muscles with potential investors Thursday, this time paring the minimum yield on a so-called covenant-lite term loan it will use to finance its exit from bankruptcy next month.

Cov-Lite Loans Make a Return Katherine Greene 2010

The loan market has been skittish about covenant-lite loans since the economic crisis drove prices to all-time lows in March 2009.

Cov-Lite Loans Make a Return Katherine Greene 2010

A deal in January allowed Hexion, another chemical company, to complete a refinancing of its existing covenant-lite deal without adding restrictions.

Cov-Lite Loans Make a Return Katherine Greene 2010