Thu 08/31/2023 04:00 AM
European leveraged loan lenders have recently reported being “dragged” into
amend-and-extend transactions, or A&Es. The maturity date of their term loan B commitments have been extended even though they have not
expressly agreed to the extension, due to operation of the “snooze you lose” provision.
In this article, we re-examine how the typical “snooze you lose” provision operates, and how outlier provisions could lead to this so-called “snooze drag.” In the expectation of...
This article is an example of the content you may receive if you subscribe to a product of Reorg Research, Inc. or one of its affiliates (collectively, “Reorg”). The information contained herein should not be construed as legal, investment, accounting or other professional services advice on any subject. Reorg, its affiliates, officers, directors, partners and employees expressly disclaim all liability in respect to actions taken or not taken based on any or all the contents of this publication. Copyright © 2024 Reorg Research, Inc. All rights reserved.