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Once a tool associated with the high-yield bond market, credit portability is becoming increasingly commonplace among syndicated and private credit loans. In M&A deal transactions, credit portability clauses allow for the transfer of existing credit facilities from the seller to the buyer. Portability is an appealing option for private equity firms as they navigate high borrowing costs. What is driving the implementation of these features, and what should market participants keep top-of-mind when negotiating portability clauses? The team at SRS Acquiom offers insights to the risks and rewards associated with portability.
Download the article to learn more about:
- History of Portability
- The Rise of Portability in the Loan Market
- Mechanics of Portability Clauses
- Benefits of Portability
- An example of Portability
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Renee Kuhl
Managing Director, Loan Agency tel:612-509-2323
Renee is the managing director of the SRS Acquiom Loan Agency Group. With more than 15 years of experience as administrative and collateral agent on loan transactions and more than ten years managing teams in loan agency and restructuring products, she is an accomplished financial industry professional and leads the loan agency business globally.
Before joining SRS Acquiom, Renee served as an administrative vice president at Wilmington Trust, N.A., most recently leading the loan agency and restructuring products. In addition to her 10 years at Wilmington Trust, she also worked for Wells Fargo Bank, N.A. in the corporate trust and shareholder services departments.
Renee has a Juris Doctorate from Mitchell Hamline School of Law in Minnesota, and a B.A. in political science and history from Azusa Pacific University in Azusa, California.