Financial covenants in the Covid world

Are existing financial covenants in leveraged loan agreements suitable in a post-pandemic world?

Over the past few months the coronavirus pandemic has brought financial covenants in leveraged loan agreements into sharp focus and it will continue to do so even as the impact of the coronavirus abates. In this article we look at:

•  financial covenant trends before the coronavirus pandemic arrived in the UK and
•  the short and medium term future of financial covenants in the leveraged finance mid-market after the pandemic