Welcome, dear reader, to our annual Golden Turkey Awards. But for my commitment to absolute fairness and concern over the appearance of impropriety, I would have awarded the first Golden Turkey Award to Dechert for actually getting the Golden Turkey
Continue Reading 2021 Golden Turkeys
The Great Index Reformation is coming. (I note in passing that the last Reformation led to the 100 Years War…just saying.) This is a massive change to our market that did not bubble up from the great unwashed on the
Continue Reading LIBOR and SOFR: Welcome to a Two-Speed Market?
It’s coming up on awards season. The Emmys were last week and weirdly, I got a thought bubble about nominees in the Black Swan category, walking the red carpet looking for attention! Think the Masquerade scene from Phantom of the
Continue Reading Does A Red Carpet Full Of Black Swans Matter?
While many of us may be sneaking in one final summer vacation, the ARRC showed no signs of a slowdown as they formally recommended the CME Term SOFR Rates. Issues with SOFR aside, it looks like the rate really is
Continue Reading Dechert OnPoint: Term SOFR is Here!
There’s a lot of reasons to structure a large loan destined for securitization as a mortgage in part and a mezzanine loan in part. Sometimes it’s simply that the borrower is needy while the capital markets are charry. In that
Continue Reading SASB: The (Shotgun?) Marriage of Mortgage and Mezz
It’s a rule around here that I don’t write on the same topic twice in a row because if you don’t get bored, I will. I am making an exception this week to revisit last week’s blog about the industry’s
Continue Reading It’s Time for The Industry to Engage on SOFR’s Voldemort Problem
To my gentler readers, first an apology for this interregnum in publication. I’ve been sitting on this commentary like a hen on an egg for weeks. All I can say is having to work for a living gets in the
Continue Reading The Powers That Be Are Rallying Around SOFR and That’s a Mistake
I have spoken to a number of people over the past months who have raised money or built technology to take advantage of a broadly anticipated distressed opportunity which was certainly to be occasioned by the pandemic. Did I miss
Continue Reading Did the Distressed Debt Opportunity Slink by Me When I Wasn’t Looking?
Alongside co-sponsors ING and KBW/Stifel, next week Dechert is proud to be (virtually) hosting the 2021 Permanent & Private Capital Summit. This two-day conference, happening on June 2nd and 3rd, will cover the latest developments and trends in the
Continue Reading You’re Invited: Permanent & Private Capital Summit 2021
Sharia law prohibits interest, naturally putting financial minds to work on how to build structures around this religious prohibition. But a recent ruling has found that such investment agreements do not qualify for safe harbor provisions of the bankruptcy code.
Continue Reading Dechert OnPoint: Shari’a Compliant Investment Agreements Do Not Qualify for Safe Harbor
