Borrowers feel the pinch
Language: English Series: Estates Gazette ; (0815) 19 April 2008, 164-166(3)Publication details: 2008Subject(s): Summary: Describes the changing use of banking covenants in light of the difficulties faced by the UK property market. These are contractual statements made by borrowing businesses under loan agreements, designed to ensure that the debt can be serviced at all times. Their terms are becoming tighter. Covers the main types of covenants: enforcing the disclosure of information, restrictions on dealings and business changes, and property related covenants. Describes the more stringent conditions being applied in each of these cases. Explains that many banks will favour a tightening of covenants rather than an acceleration and calling in of loans.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L143261 (Browse shelf(Opens below)) | 1 | Available | 143261-1001 |
Describes the changing use of banking covenants in light of the difficulties faced by the UK property market. These are contractual statements made by borrowing businesses under loan agreements, designed to ensure that the debt can be serviced at all times. Their terms are becoming tighter. Covers the main types of covenants: enforcing the disclosure of information, restrictions on dealings and business changes, and property related covenants. Describes the more stringent conditions being applied in each of these cases. Explains that many banks will favour a tightening of covenants rather than an acceleration and calling in of loans.