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ARTICLE · 06 FEBRUARY 2023

Debt Download

Goodwin Procter LLP
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Welcome to Debt Download, Goodwin's monthly newsletter covering what you need to know in the leveraged finance market. We hope your year is off to a good start!

United StatesFinance and Banking
Jillian R. Gautier
Jillian R. Gautier

Welcome to Debt Download, Goodwin's monthly newsletter covering what you need to know in the leveraged finance market. We hope your year is off to a good start!

Note: Some of the links in this newsletter may redirect you to a subscription-only resource.

In the News

  • 2022 was a volatile year for various markets, including historic losses in the U.S. bond market and a punishing year for equities. Covenant Review's U.S. Loans 2022 Wrap-Up, aptly named "A Tale of Two Markets", provides a great recap of trends in the leveraged loan market. In sum, the year started off with strong volume and borrower-friendly loan agreement provisions, but took a quick turn given macro-economic and geopolitical headwinds and ended with an increased number of liability management transactions, a general decline of aggressive credit agreement baskets and flexibility for borrowers, and continued fights between borrowers and lenders over credit spread adjustments (CSAs) in LIBOR to

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