LMEmes
@lolviolence
A covenants meme account
“There are 3 ways to succeed in this business: (1) dropdown, (2) uptier, and (3) double dip. Well, I don’t double dip. And although I’d like to think we’re pretttty good at organizing the req lenders, it sure is a hell of a lot easier to just drop it all down.”
9/ But dropdowns do have important benefits vs an uptier Unlike uptier transactions, dropdowns dont require majority consent of lenders, and can be executed without amending your credit doc New lenders or investors are also more likely to partner with borrowers in a dropdown
I used to rule the world Seas would rise when I gave the word Now in the morning, I sleep alone Sweep the streets I used to own
The federal government's bankruptcy watchdog told a Texas federal judge that under the Seventh Amendment, Jackson Walker isn't entitled to a jury trial in its fee dispute stemming from a former bankruptcy judge's secret relationship with a onetime partner. law360.com/articles/23658…
“See right there it says I have $3.1 billion of capacity for Credit Facilities”
Remarkable moment between Trump and Powell.
Cool cool let’s just reprice every lev loan all at the same time why not
“I recognize this isn’t the consensus view”
This morning, US government criticism of both Federal Reserve Chair Powell and the institution itself has broadened to include "mission creep" and the effectiveness of other officials. The developments of the last few days reinforce my view: If Chair Powell's objective is to…
Rough time to be a risk averse lawyer type. Sucks for those guys. “Will the value of money be defended? Judging from the lessons of history and current readings, I think that it is clear that the value of money won’t be defended until the classic weak money/inflation problems…
x.com/i/article/1947…
I’m old enough to remember when $KSS activists threw a hissy fit that management wouldn’t sale-leaseback the company’s gigantic real estate portfolio because “that’s just not the sort of thing an IG-rated company does” or whatever Oh the good ol’ days
At this stage of the empire, just pick up shares in a random millennial nostalgia company There’s probably a 50% chance it will be meme-stocked someday 😂 $KSS
Private-credit firms are expanding their legal hires as they look for embedded expertise, not just outside advice, recruiters say wsj.com/articles/priva…
Private-credit firms are expanding their legal hires as they look for embedded expertise, not just outside advice, recruiters say wsj.com/articles/priva…
I guess one way to give young folks a sense of stake in the future / shot at generational wealth is to pour rocket fuel on their raging gambling habit.
BREAKING: The Financial Industry Regulatory Authority is looking to rework the “pattern day trading” rule that limits investors with less than $25,000 in their margin account from borrowing to trade four or more times in a five-day period. In a proposal being prepared for…
I guess we’ll see whether “don’t fight the Fed” applies to Trump
Rep. Anna Paulina Luna, R-Fla., is referring Fed Reserve Chair Jerome Powell to the DOJ for criminal charges, accusing him of two specific instances of lying under oath regarding the $2.5B renovation of the Federal Reserve’s Eccles Building. (FOX)
Third World Country shit
Rep. Anna Paulina Luna, R-Fla., is referring Fed Reserve Chair Jerome Powell to the DOJ for criminal charges, accusing him of two specific instances of lying under oath regarding the $2.5B renovation of the Federal Reserve’s Eccles Building. (FOX)
One of the first things I learned about negative covenants: they are a gauntlet. A compliant transaction must satisfy each covenant through exemption (ie covenant does not apply) or exception (ie a carve-out or "basket"). It's basic, but that's why it's building block #1.
