Meyer C. Dworkin

A key feature of many modern credit agreements is an “incremental” or “accordion” provision, which can allow a borrower to increase the aggregate amount of financing available und...

In a typical “term loan B” (TLB) financing, the initial lenders expect to distribute the TLB paper to investors prior to funding. But what happens when that expectation cannot be met,...

In this chapter for The International Comparative Legal Guide to: Lending & Secured Finance 2019, Davis Polk partner Meyer Dworkin examines the primary features of delayed draw term loans...

In this chapter for Global Legal Insights - Fund Finance 2019, Davis Polk partner Meyer Dworkin examines the typical structure of, and collateral securing, NAV Facilities, and discusses r...

As the structure of term loans continues to evolve to include variations on “call protection” – provisions compensating lenders for early prepayments – such features need to be do...

Davis Polk lawyers Meyer Dworkin and Samantha Hait recently authored a chapter in Global Legal Insights Fund Finance 2018, Second Edition. In “Recent Developments in Fund Financing: Hyb...

Davis Polk lawyers Meyer Dworkin and Samantha Hait recently authored a chapter in The International Comparative Legal Guide to: Lending & Secured Finance 2017, Fifth Edition. In “Escrow...

In recent years, secured credit facilities provided to funds have been dominated by two forms: the “Subscription Facility” and the “NAV Facility”. In this article, we focus on iss...

Companies will often enter into interest rate swap agreements in order to hedge their exposure to interest rate risk stemming from floating-rate debt. These hedging arrangements are desig...

Over the past 10 to 15 years, lien subordination and tiering has moved from the periphery of the finance markets to the very heart of U.S.-based leveraged finance. Whereas the predominant...