• "Second Lien" Loans
  • December 2, 2005 | Authors: Dana Simaitis Armagno; Michael M. Eidelman; Allen J. Gable
  • Law Firm: Vedder, Price, Kaufman & Kammholz, P.C. - Chicago Office
  • Second Lien lenders used to review only a chosen borrower's enterprise value or asset value to determine if it will exceed the value advanced against by a senior secured lender. Today, Second Lien lenders create a broad range of structured finance products to meet the needs of a borrower's circumstances and capital structure, rather than adhering to a strict borrowing formula. This article discusses Second Lien financing structures in detail.