Creditor Cooperation Agreements Are Getting Longer
Deals that see creditors stick together in the face of company pressure are getting more comprehensive in response to aggressive tactics
The Altice headquarters during a protest over pay in Lisbon, Portugal, on Friday, Jan. 26, 2024.
Photographer: Zed Jameson/BloombergWelcome to The Brink. It’s Reshmi Basu andIrene Garcia Perez in New York and Giulia Morpurgo in London, where we looked at the growth in creditor cooperation agreements on both sides of the Atlantic. We also have the latest on Thames Water, Kelvion and Sri Lanka. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net or DM on X to @irenegperez
As higher interest rates have pushed more companies to restructure their debt, a way for creditors to protect themselves known as cooperation agreements are becoming increasingly popular.