The devil’s in the detail for junk debt investors facing coronavirus defaults | Reuters


With the coronavirus pandemic threatening to trigger a surge in corporate loan defaults, borrowers and investors in so-called covenant-lite loans and high-yield bonds with weak protection for creditors are taking stock fast.

“The number of questions have just skyrocketed since March 1. People are just poring over the documents,” said Charles Tricomi, head of leveraged loan research at Xtract Research in New York, which analyses debt covenants for investors.

Source: The devil’s in the detail for junk debt investors facing coronavirus defaults – Reuters

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