Structuring
When a deal reaches for a Luxembourg vehicle
When a transaction needs a Luxembourg issuing vehicle — and what compartments and ring-fencing actually do for the lenders behind it.
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Insights
Working notes on how private credit actually gets structured, administered, and funded — written for the people doing the deals.
Structuring
When a transaction needs a Luxembourg issuing vehicle — and what compartments and ring-fencing actually do for the lenders behind it.
Read insightTrustees
What a security trustee does, why bondholders use one, and whether you need to appoint one.
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How an actively managed certificate works as a wrapper for a strategy that can be rebalanced over time.
Read insightMarket Access
Why access, not capital, is the real constraint in private credit — and what closes the gap.
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What approaching the wrong lenders actually costs, and why fit beats reach in private credit.
Read insightAgency Services
What a facility agent does on a syndicated or club loan, and why independence matters.
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The paying agent, calculation agent and registrar roles on a debt deal, and how they fit together.
Read insightTrustees
An event of default opens the door to enforcement; a specified majority must direct the trustee first.
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