by Ron Carleton | Jan 26, 2010
Jarden Corporation (Ticker JAH) is a diversified consumer products company whose brands include First Alert, Holmes, Mr. Coffee, and Sunbeam. On June 30, 2009, it had approximately $2.7 billion of debt outstanding, half of which was in the form of Term Loans due...
by Ron Carleton | Oct 29, 2009
The November 2009 issue of The RMA Journal, The Journal of Enterprise Risk Management, includes an article entitled “Using Subordination to Define Intercreditor Priority” by Ron Carleton and Tim Delaney of Financial Training Partners. The RMA Journal is...
by Ron Carleton | Oct 19, 2009
In the last 6 months, we’ve seen a number of “amend and extend” transactions. Typically they involve: The extension of the maturity of a term loan and/or revolver (typically for syndicated, non-investment grade loans). This is only for lenders who...
by Ron Carleton | Jun 24, 2009
According to Bloomberg.com, American Airlines is asking its lenders for a covenant waiver. A conference call was held on June 22 and responses are due by June 25. Why the rush? The covenant would be waived for the quarter ending June 30, so the company wants the...
by Ron Carleton | Jun 17, 2009
With the weak economy, we are seeing more companies breach covenants in their loan agreements. Such a default typically gives lenders these right: Acceleration (i.e. “call the loan”) – declare the principal of the loan to be immediately due and...
