In conjunction with the publication of a staff report, “U.S. Credit Markets: Interconnectedness and the Effects of the COVID-19 Economic Shock,” the Securities and Exchange Commission announced a roundtable on October 14, 2020. The Roundtable will include senior staff of the SEC, as well as international regulators and market participants. The report discusses how interconnections
This Lexis Practice Advisor practice note discusses reopenings of debt securities issuances. Companies frequently raise capital by issuing additional debt securities of the same series as debt securities outstanding under an existing indenture, often referred to as “reopening the indenture” or “reopening the series.”
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Businesses are under unprecedented stress due to the global COVID-19 pandemic. Many of these businesses need some form of relief on their debt obligations in order to avoid triggering defaults, foreclosures and collection activity during this extraordinary period of economic inactivity. There is no one way to structure a workout. The workout structure can be…
On March 2, 2020, the US Securities and Exchange Commission (SEC) adopted amendments to Rules 3-10 and 3-16 of Regulation S-X that simplify and streamline the financial disclosures required in registered debt offerings involving guaranteed or collateralized debt securities.
Read our Legal Update here.