Global spending on advertising in 2020 is forecast to exceed $700 billion. Bernard Urban investigates the complexities of lending to this space where money moves like molasses and nonbank lenders are entering the game at an increasing rate.
Institutional investors, under pressure to deploy funds, have resorted to taking on even more risk. Hugh Larratt-Smith examines the proliferation of covenant-lite loans in the market and their implications for the industry.
Jeffrey Wurst examines two standards of the UCC for collateral description. He explains why lenders must exercise caution when intending to lend against collateral that is represented not to be part of a prior lender’s collateral package.
Food-related businesses are under stress. Why is this happening to industries that serve such a basic need? Juanita Schwartzkopf explores the causes of this trend, such as changes in consumer preferences, and says lenders and borrowers must remember that cash is king when it comes to today’s food chain.
Lenders and funds continue to explore innovative ways to include a wider pool of investors in the borrowing base. But care should be taken to understand the provisions of a fund’s constituent documents and side letters when considering such an approach.
After serving the U.S. Bankruptcy Court for 14 years, The Honorable Kevin Gross is retiring. In a Q&A with ABF Journal, he looks back on the events that led him to bankruptcy and the most important cases that came before him.
Tariffs, trade wars and economic uncertainty rippled through 2019. Hugh Larratt-Smith examines current economic trends and speaks to leading ABL lenders about the impact the winds of change are having on the industry.
ABL lending may seem cut and dried to outsiders, but those on the inside know that even the most carefully designed loans can go awry. Turnaround specialists Robert Riiska and William White explain what could go wrong with the ABL lender toolkit and how to repair it.
Santander Bank may not come to the top of mind when people think about ABL transactions. But Paul Cronin, the bank’s new ABL chief, is looking to get the message out that the Spanish based bank is in the market and ready for business.
Thousands of Californian’s persist in living on both sides of the San Andreas fault line, knowing that a major earthquake can send them tumbling into the sea. Jeff Wurst points out that some lenders live the same way — enjoying the current economic boom and ignoring the inevitable downturn on the horizon. His suggestions can help protect businesses when the boom falls.