Liability Management Webinar Series: Ep1. Overview and Uptiering
Date: October 22, 2025
Presenters:
Anthony P. Canale, J.D., Global Head of Research, Covenant Review
Scott Josefsberg, J.D., Head of U.S. High Yield Research, Covenant Review
Ian Y. Feng, J.D., Senior Director, U.S. Leveraged Loans, Covenant Review
Our three-part series will provide a comprehensive examination of the major LMT strategies employed in the market today, analyzing recent litigation outcomes, emerging transaction structures, and practical market responses. Gain critical insights to better identify risks in credit documents, understand potential recovery implications, and position yourself advantageously in today鈥檚 complex liability management landscape.
Ep1. Overview and Uptiering
- LMT Fundamentals:聽Essential definitions and the exponential growth of liability management transactions in recent years.
- Uptier Transaction Mechanics:聽Detailed exploration of the 鈥淪erta paradigm鈥� and its evolution from LME 1.0 to LME 2.0.
- Legal Landscape:聽Analysis of recent landmark litigation including Serta, Mitel, and Incora cases and their implications.
- Market Responses:聽Evaluation of 鈥淪erta鈥� blockers, buyback limitations, and other protective provisions.
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Know More. Risk Better.庐
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