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In this podcast, Matthew Tobin and Kathrine Meloni discuss key issues for companies contemplating debt financings, refinancings or restructurings in the coming months and some of the themes that are starting to emerge.

The debt markets were dominated by amendments and waivers, extension requests and short-term loan facilities earlier this year. We helped clients across the credit spectrum amend and restructure their debt capacity. Many of our clients also accessed the UK Government’s support initiatives, including the CCFF and the CLBILS. Our takeaways from the COVID-period financings are summarised in our June Briefing, Lessons from Lockdown.

Refinancing requirements are anticipated to peak in 2022/23. There also remains the possibility of many companies requiring a second round of COVID-financing. There is the potential for debt markets to become quite crowded again in the relatively near future. A number of our clients are already starting to re-evaluate financing arrangements put in place in the initial stages of the lockdown period, from both public and private sources.

You can also download a copy of our briefing here.