Liability management transactions (“LMTs”), at their core, are maneuvers whereby a favored (or “winning”) group of lenders to a given borrower extract value from an unfavored (or “losing”) group of lenders to the same borrower. LMTs have recently gained significant momentum and—from the perspective of unfavored lenders—notoriety.
LINKS
Read “Liability Management Transactions: The Role of the Administrative Agent”, co-authored by Arleen A. Nand for the American Bar Association.