Cross-border restructuring in emerging markets

Corporate financial distress and non-performing loans continue to make headlines in all financial markets, but have features in emerging markets that make them particularly challenging. They represent both a risk and an opportunity for international banks and debt investors active outside of their home markets. Debt restructuring in emerging markets has additional dimensions, whether they arise from political risks and economic instability or regulatory and legal uncertainty. This article focuses on some factors to consider before implementing an ‘amend and extend’ style restructuring or a disposal or purchase of loans in emerging markets.

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