First 'Lien' Lenders and First 'Out' Lenders: The Meaning of 'Unitranche'

December 2, 2012

As lenders look for new opportunities, the possibility of structuring loans with different price points and different attributes as a "unitranche" has captured the attention of lenders.  This article published in the October issue of Financier Worldwide by Otterbourg partners, Michael Barocas and David Morse explores some of the ins and outs of a unitranche financing, particularly in comparison to a traditional first lien/second lien financing.  Read the article here