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Financing Year in Review: The Tide Turns
Source: corpgov.law.harvard.edu
Article summary:
1. 2022 saw a marked contraction in credit availability and a slowdown in deal-making across sectors and credit profiles.
2. Acquisition financing commitments were difficult to obtain due to market and regulatory forces, leading to less predictable timelines between signing and closing of acquisitions.
3. Despite the challenging environment, creative solutions such as buy now, borrow later strategies were employed by financial buyers to get deals done.
Article analysis:
The article provides an overview of the financing landscape in 2022, noting that it was characterized by a contraction in credit availability and a slowdown in deal-making across sectors and credit profiles. It also discusses the difficulties encountered when attempting to obtain acquisition financing commitments due to market and regulatory forces, leading to longer timelines between signing and closing of acquisitions. The article then goes on to discuss how financial buyers employed creative solutions such as buy now, borrow later strategies in order to get deals done despite the challenging environment.
The article is generally reliable and trustworthy; it provides an accurate overview of the financing landscape in 2022 with supporting evidence for its claims. It also presents both sides of the issue fairly, discussing both the challenges faced by borrowers/sponsors when attempting to obtain acquisition financing commitments as well as potential solutions they can employ. The article does not appear biased or one-sided; it does not make any unsupported claims or omit any points of consideration or evidence for its claims made. Furthermore, it does not contain any promotional content or partiality towards either side of the issue discussed. Finally, possible risks are noted throughout the article; for example, it mentions that obtaining committed financing will require creativity and avoiding “the urge to let the perfect become the enemy of the good”. In conclusion, this article is reliable and trustworthy with no apparent biases or omissions present.