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Practical perspectives on debt financing structures, market developments, and the legal mechanics that matter. Written by lawyers who negotiate these deals.
No theoretical musings or marketing disguised as thought leadership. Just insights from practitioners who've actually closed these transactions.
Field exams, dilution reserves, and why 85% receivables advance rates aren't as simple as they sound. The mechanics that separate good ABL facilities from problematic ones.
When multiple lenders layer into a capital structure, the intercreditor agreement determines who gets paid, when, and how much. Waterfall mechanics, payment subordination, and enforcement rights.
Beyond the warrant hype: how venture debt actually works, when it makes sense, and why ARR-based covenants matter more than equity kickers in most structures.
How European direct lending differs from US markets. Covenant-lite isn't quite the same, security packages vary by jurisdiction, and 'unitranche' means different things.
How unitranche facilities streamline mid-market LBOs while maintaining flexibility for borrowers and returns for lenders. Structural mechanics, pricing considerations, and market positioning.
Receivables purchase programs, reverse factoring, and dynamic discounting. How modern supply chain finance structures work and why traditional factoring isn't what most people think.
If you're working on transactions like these, we'd like to help.
Get in TouchWe publish insights based on market developments, regulatory changes, and transaction trends—typically 1-2 articles per month. Our goal is quality over quantity: each insight should provide actionable information for finance professionals, whether you're structuring a transaction, negotiating terms, or evaluating market dynamics. We focus on topics that matter to our clients—explaining complex structures, analyzing regulatory changes, and sharing lessons from recent transactions.
Absolutely. Our insights are designed to be shared. You're welcome to forward articles to clients, include them in pitch materials, cite them in presentations, or reference them in your own analysis. We just ask that you maintain attribution (link back to tula.legal or cite TULA Legal as the source). If you'd like to republish an entire article on your own platform, please contact us for permission. We're happy to support distribution that helps finance professionals understand complex legal structures.
Yes, we offer continuing legal education programs and training sessions for financial institutions, corporate legal departments, and professional groups. Topics can be customized based on your needs—from broad overviews of alternative lending markets to deep dives on specific structures like unitranche financing or intercreditor arrangements. We also provide transaction-specific training for lending teams implementing new products. Contact us to discuss CLE or training programs tailored to your organization.