News & Events

Corporate Partner Mary Touchstone spoke about the current corporate lending environment in a Private Funds CFO article titled, “Unofficial borrower's guide to an unmappable lending landscape.” The article, which is part of a series titled, “Subscription Credit: A Shifting Landscape,” explored the subscription finance market amid the coronavirus pandemic and highlighted that many banks have become more selective with their lending. The article noted that borrowers may have to be more willing to do business with new lenders and should be prepared to potentially move their fund deposits to these lenders. Mary acknowledged that this may be a concern for sponsors who wish to keep the fund account with their previous bank. In that case, she explained that borrowers can put a control agreement in place to ensure the new lender can obtain control of the account in the event of a default, which can help avoid investor confusion or other general operational risks.

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