Private equity and debt contract enforcement: evidence from covenant violations

We document the importance of a financial sponsor when a borrower violates a covenant, providing creditors the opportunity to enforce debt contracts. We identify private-equity (PE) sponsored borrowers in the Shared National Credit Program (SNC) data and find PE-sponsored borrowers violate covenants...

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Veröffentlicht in:	Finance and economics discussion series 2023-04 (2023-018), p.1-69
1. Verfasser:	Haque, Sharjil Muktafi
Format:	Artikel
Sprache:	eng
Online-Zugang:	Volltext
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