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  • 14 Sep 2010
  • First Look

First Look: September 14, 2010

close to violating its loan covenants in 2009, Momentive took a variety of actions over several months to restructure its debt. In particular, in May of 2009, Momentive had exchanged a fraction of its outstanding notes. In November of... View Details
Keywords: Sean Silverthorne
  • 06 Apr 2010
  • First Look

First Look: April 6

controlling family, when the borrower has a higher degree of informational opacity, a lower credit rating, and a lower potential for being propped up, when the loan facility is subject to more credit risk, and during financial crises. The presence of collateral and... View Details
Keywords: Martha Lagace
  • 08 Nov 2011
  • First Look

First Look: Nov. 8

instead of growing by 11% as forecasted. Also, disruptions in financial and insurance markets created a cash shortfall. In the summer of 2009, Penn was facing the likelihood of default and possible foreclosure under its loan agreements. Its lender was refusing to waive... View Details
Keywords: Sean Silverthorne
  • 31 Jan 2012
  • First Look

First Look: Jan. 31

with a decrease in debt-equity conflicts of interest. The changes are isolated to firms relatively closer to default. The ruling was also followed by an increase in average leverage and a reduction in covenant use. Finally, we estimate... View Details
Keywords: Sean Silverthorne & Carmen Nobel
  • 20 Dec 2011
  • First Look

First Look: December 20

The changes are isolated to firms relatively closer to default. The ruling was also followed by an increase in average leverage and a reduction in covenant use. Finally, we estimate the welfare implications of this change and find that... View Details
Keywords: Carmen Nobel
  • 24 Jan 2012
  • First Look

First Look: Jan. 24

Options include closing plants, exiting a business, or undertaking a major headcount reduction. Includes a description of Hexcel's private equity relationship with Goldman Sach's Capital Partners and presents the financial challenges of renegotiating bank lending View Details
Keywords: Sean Silverthorne
  • 25 Sep 2012
  • First Look

First Look: September 25

investigated the CIO losses. Purchase this case:http://hbr.org/search/313033-PDF-ENG Lind Equipment Richard S. Ruback and Royce YudkoffHarvard Business School Case 212-012 Lind Equipment failed to meet its loan covenants with its senior... View Details
Keywords: Sean Silverthorne
  • 29 Jan 2008
  • First Look

First Look: January 29, 2008

1,582 loans financing private equity-sponsored leveraged buyouts between 1993 and 2005, we find that bank relationships explain cross-sectional variation in the loan interest rate and covenant structure. Our results indicate that two... View Details
Keywords: Martha Lagace
  • Web

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Litigation and Litigation Strategy Day 11: Bankruptcy Day 12: Securities Law – What is a Security Day 13: Securities Law – Operating in the Securities Markets Day 14: Regulation of the Securities Market Module 3: Starting & Growing Businesses Day 15: Breaking Away –... View Details