For many issuers, a liability management transaction may be part of an overall funding and liquidity management strategy. For others, an exchange offer, consent solicitation or tender offer may be undertaken in connection with a restructuring or recapitalization. For financial institutions or insurance companies, a liability management transaction may serve to address regulatory capital considerations.
Our book, Structuring Management Transactions, published by the International Financial Law Review, provides a summary of the US legal framework, including guidance provided through no-action letters issued over many years, applicable to these transactions. The book also sets forth themain regulatory and tax considerations that should be taken into account when determining the best approach.
To access additional articles, charts and other related materials, visit our Liability Management Resources page.