Investor group calls for better covenant transparency after TKE victory

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Investor group calls for better covenant transparency after TKE victory

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The European Leveraged Finance Association has called for better transparency in high yield covenant packages, arguing that clarity is crucial for pricing risk. The call comes shortly after one of the largest covenant climb-downs in recent market history, when lead banks on ThyssenKrupp Elevator stripped many of the most controversial terms from the €8bn financing.

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