Term Loans and High Yield Bonds: Tracking the Convergence | Practical Law

Term Loans and High Yield Bonds: Tracking the Convergence | Practical Law

Typical provisions for certain syndicated term loans have undergone a transformation in the last ten years, adopting some features traditionally found in high yield bonds. Investors and arrangers should understand the implications of this unmistakable trend and take into account the related risks in their decision-making.

Term Loans and High Yield Bonds: Tracking the Convergence

Practical Law Article 5-520-2458 (Approx. 13 pages)

Term Loans and High Yield Bonds: Tracking the Convergence

by Maura E. O'Sullivan and Benjamin M. Cheng, Shearman & Sterling LLP
Published on 01 Jul 2012USA (National/Federal)
Typical provisions for certain syndicated term loans have undergone a transformation in the last ten years, adopting some features traditionally found in high yield bonds. Investors and arrangers should understand the implications of this unmistakable trend and take into account the related risks in their decision-making.