Market Trends 2021/22: Commitment Letters for Acquisition Financing

Summary

This practice note discusses current market trends in publicly filed commitment letters for acquisition financing from the second half of 2021 and the first half of 2022. In addition to standard commitment letter provisions, commitment letters for acquisition financing contain some terms specifically addressing the nature of the financing being for an acquisition. This practice note examines examples of select key provisions in commitment letters for acquisition financing, including SunGard provisions and bifurcated governing law provisions.