Welcome to the autumn edition of our banking and finance bulletin.
Not much grabs the headlines in the banking and finance world these days. Our friends over in our restructuring and insolvency practice tend to get all the attention. Whilst they certainly have plenty to say for themselves having recently advised Pizza Hut Restaurants on its successful CVA (on which see further below), we in the banking part of the team shouldn’t pretend that we’ve been twiddling our thumbs whilst “working from home” these last several months.
On the contrary, we’ve actually experienced a very busy end of summer and autumn period, with plenty of activity in the lending sphere with CBILS loans, amendment and restatement exercises and covenant waivers. Whilst lockdown #1 certainly took a hit to corporate activity, we’ve seen signs of recent activity evidencing that there are some potentially interesting opportunities out there for those with the appetite and funds. Let’s hope lockdown #2 doesn’t disturb those fragile green shoots.
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Jonathan Porteous
Andrew Dodds
Matthew Padian