Andy Thomson is a Senior Editor at PEI with responsibility for Private Debt Investor, the leading title focused on the world's private debt markets. Andy works closely with team members in London, New York and Hong Kong. He has been with PEI for many years, having worked previously on Private Equity International and Infrastructure Investor.
Fewer covenants can provide greater flexibility in dealing with portfolio company difficulties, but they may also prevent lenders from negotiating rescue plans with borrowers and sponsors. Andy Thomson and Andrew Hedlund investigate