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With term loans trading at record lows in the secondary market, many borrowers have been looking to reduce their financing costs by retiring their loans at a significant discount. This can give lenders the opportunity to reduce positions and improve liquidity but also presents a range of issues which many lenders will be facing for the first time.

Please join us for a 30-minute teleconference, the next in our continuing series on the financial crisis, in which we will address such questions as:

  • What are the typical document issues raised by such buy-backs?
  • What are the pros and cons of prepayment vs. purchase by assignment?
  • How do such buy-backs impact the financial covenants and other baskets in the credit agreement?
  • What are the operational issues that need to be addressed?
  • What do successful buybacks have in common?

Mayer Brown's Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm's global resources from multiple practices and offices, the Initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.

Listen to audio recording >>

For additional information, please contact Megan Filotto at mfilotto@mayerbrown.com or
+1 312 701 7264.

Visit Mayer Brown's Financial Market Distress - Resources site for a compilation of links to the latest documents issued by regulatory and other governmental agencies worldwide, and additional commentary by Mayer Brown. Please bookmark it and check back often to stay informed on this rapidly evolving situation.