In The News
‘Pray and Delay’ is Back as Debt Costs Soar
Semafor
21 Sep 2023
Semafor
Howard Morris spoke with Semafor about the growing trend of debt payments being pushed by a few years while giving lenders extra fees for their flexibility, known as “amend and extend” or “pray and delay.”
“Sometimes it’s a sensible calculation that it’s going to take longer to realize value, and sometimes it’s just buying time,” Howard said. “We’re tipping toward the latter.”
Read the full article.