Liability Management

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On April 16, 2026, the Division of Corporation Finance (the “Division”) of the Securities and Exchange Commission (“SEC”) issued an exemptive order allowing certain qualifying tender offers for equity securities to remain open for a minimum of 10 business days, instead of the 20 business days required under the Securities Exchange Act of 1934 (the…

Webinar | May 21, 2024
9:00 a.m. – 9:30 a.m. EDT
Register here.

Mayer Brown’s Capital Markets and Financial Services Regulatory Team cordially invites you to our 30-minute Know-How Webinars. Over the course of this series, we will report on the main 2024 developments relevant to capital markets, structured products, derivatives, and financial regulatory…

Webinar | April 11, 2024
2:00 p.m. – 3:00 p.m. EDT
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Given market conditions, issuers in a range of industries may be evaluating potential liability management transactions, including debt repurchases, and tenders or exchange offers. In some cases, no-action letter relief may provide issuers with greater flexibility for tender offers for non-convertible…

March 1, 2023 Webinar

2:00 pm – 3:00 pm ET

Register here.

During this webinar, the presenters will discuss some of the remaining issues not addressed by federal LIBOR legislation, including for debt securities not governed by US law, securities referencing the CMS rate, and other matters, as well as the liability management approaches…

February 28, 2023 Webinar

3:00 pm – 4:00 pm ET

Register here.

Given market conditions, issuers in a range of industry sectors may be evaluating potential liability management transactions, including debt repurchases, and tenders or exchange offers. In some cases, no-action letter relief may provide issuers with greater flexibility for tender offers for non-convertible…

This practice note provides key practice tips for advising a client considering a liability management transaction. Given recurring periods of market volatility, issuers in a wide range of industry sectors from time to time evaluate potential liability management transactions, including debt repurchases, tender or exchange offers, and consent solicitations. Liability management transactions allow an issuer…

These 10 practice points are intended to help you in assisting an issuer with a proposed debt tender offer for cash. Often, issuers of debt securities seek to manage their outstanding obligations through liability management transactions, including debt tender offers for cash. Indeed, given the current low interest rate environment, companies may consider borrowing new…

June 18, 2021 Webinar
11:00am – 12:00pm EDT
Register here.

Issuers in a range of industry sectors may now be evaluating potential liability management transactions, including debt repurchases and tenders or exchange offers. In some cases, no-action letter relief may provide issuers and their advisers with greater flexibility for tender offers for non-convertible debt…

Just as with debt instruments between unrelated parties, the current economic downturn may cause related parties to want to modify the terms of debt instruments existing between them. And as with debt instruments between unrelated parties, modification of debt instruments between related parties may have a number of tax consequences. What constitutes a “modification” and…

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.”

Read the full article here.