Lenders look at MAC clauses amid revolver demand

By Seth Brumby

Thursday, April 02, 2020

A plethora of revolver draws has swept through the corporate credit markets. While banks and asset managers have so far shown the capacity to meet their unfunded commitments, the material adverse change (MAC) clause in credit agreements could allow them to pushback on borrowers.

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TAGS: Direct lending Leveraged loans Primary market North America

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