Article The Venture Capital Review

The Gift that Keeps on Giving: Negotiating the High Yield Indenture

High yield debt is an integral part of the capital structure of many private equity sponsored portfolio companies.  This highlights the importance of a deeper understanding of the instrument itself.  In this article from the Summer 2005 issue of The Venture Capital Review, Kirkland partner Gerald T. Nowak discusses how high yield covenants differ from other types of credit agreements.