Article

Limiting the conversation: the rise of anti co-operation provisions in leveraged finance

Limiting the conversation: the rise of anti co-operation provisions in leveraged finance
Published Date
Nov 10, 2026

Anti co-operation (“anti co-op”) provisions have attracted significant attention across the global leveraged finance market.

In our latest insight, we explore the factors driving their emergence and consider developments across the U.S. and European markets, including:

  • the drivers behind “anti co-op” language and its connection with the growth of LMEs
  • the current position across U.S. and European syndicated loan, high yield and private credit markets
  • the scope of emerging provisions
  • the potential implications for market participants.

Download our full article to read more about “anti co-op” provisions in leveraged finance.

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