Mezzanine reveals key LMA intercreditor requests

Author: | Published: 7 Dec 2011

The Loan Market Association (LMA) confirmed today that it is drafting a revised intercreditor agreement following its 2009 agreement.

The new draft will be welcomed by mezzanine lenders, with some of the provisions in the last 2009 agreement proving controversial among providers of mezzanine.

While LMA’s chief executive Clare Dawson told IFLR that the association is listening to mezzanine’s concerns, it is unclear if their key requests will be met. Here, Richard Holden, partner at Neovara, a mezzanine-focussed credit investment manager, explains the firm’s hopes for the new intercreditor agreement:


The most complex and contentious point for both parties is enforcement. The mezzanine...



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