USA
Canada
United States of America
Washington DC
Law and Practice Contributed by: Stelios Saffos, Dan Seale, Peter Sluka and Alfred Xue Latham & Watkins
Mexico
Contents 1. Private Credit Overview p.327 1.1 Private Credit Market p.327 1.2 Interaction With Public Markets p.327 1.3 Acquisition Finance p.327 1.4 Challenges p.327 1.5 Junior and Hybrid Capital p.328 1.6 Sponsored/Non-Sponsored Debt p.328 1.7 Recurring Revenue Deals and Late-Stage Lending p.328 1.8 Deal Sizes, Fund Sizes and Fundraising p.328 1.9 Impending Regulation and Reform p.328 2. Regulatory Environment p.329 2.1 Licensing and Regulatory Approval p.329 2.2 Regulators of Private Credit Funds p.329 2.3 Restrictions on Foreign Investments p.329 2.4 Compliance and Reporting Requirements p.329 2.5 Club Lending and Antitrust p.329 3. Structuring and Documentation p.329 3.1 Common Structures p.329 3.2 Key Documentation p.330 3.3 Restrictions on Foreign Direct Lenders p.330 3.4 Use of Proceeds and Acquisition Financings p.330 3.5 Debt Buyback p.331 3.6 Recent Legal and Commercial Developments p.331 3.7 Junior and Hybrid Capital p.331 3.8 Payment in Kind/Amortisation p.331 3.9 Call Protection p.332 4. Tax Considerations p.333 4.1 Withholding Tax p.333 4.2 Other Taxes, Duties, Charges or Tax Considerations p.333 4.3 Tax Concerns for Foreign Lenders p.334 4.4 Tax Incentives p.334 4.5 Non-Bank Status p.334
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