Davis Polk partner Dan Hirschovits, counsel Aaron Ferner and associate Joshua Bunn authored “Going public: The impact of IPOs on facility agreements” in Butterworths Journal of International Banking and Financial Law. In the article, they discuss the current state of the initial public offering market – including why a company might choose to seek an IPO – and look at the potential impact of an IPO on a company’s facility agreement.

They also explain how IPOs are typically regulated in corporate facility agreements and explore the mechanisms that sponsor-backed companies and their lenders often employ to automatically modify the terms of a leveraged financing so that it remains suitable for a publicly traded company post-IPO.

Read the full article

Copy link to share post