The proof of the product

Article Abstract:

Senior debt plays an important part in the management buyout market. The market is well established and is constantly developing. Intense competition is becoming evident and may tempt less experienced players to enter the the senior debt market. Many more banks have entered the market with new debt products and competitive pricing regardless of the risks involved in the transaction. An experienced bank will continue to be selective and offer a competitive senior debt package while providing flexibility throughout the transaction. The cheapest debt packages can be more costly in the long run.

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New techniques and expertise win the business

Article Abstract:

Intense competition in the acquisition finance market has raised concerns amongst banks that have been active in the sector that acquisition prices may begin to climb towards those experienced in the late 1980s when debt-to-equity gearing reached 7:1. However, the market has so far remembered the lessons of that period, with customers and suppliers realising that improved finance and debt structuring are key elements of a succesful acquisition.

Economic aspects, Leverage (Finance), Leverage

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How lawyers help lenders

Article Abstract:

Lawyers can advise senior debt lenders in many ways, including the key issue of debt structuring. The debt lawyer's main function is to provide advise on due diligence, debt structuring, transaction management, drafting and negotiation. Debt structuring is probably the most important aspect of any transaction and extensive work should be carried out to ensure that it is set up correctly.

Management, Debt

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