Reorg Launches European A&E Tracker
In light of macroeconomic headwinds, rising central bank rates and the resulting difficult conditions for refinancing seen since the first quarter of 2022, Reorg has started tracking amend-and-extend, or A&E, transactions in the European leveraged finance market. Our recent report, compiled by the EMEA legal team, highlights key trends based on our intelligence on A&Es gathered to date: Since July 2022, 70 different tranches of debt have been subject of a consensual A&E, with 52 of those being launched in 2023 alone.Borrowers typically launch their A&Es with an average remaining time to maturity of 21 months.The average extension period seen is 29 months, with a range of six to 51 months. Learn...
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