Do Adverse Oil Price Shocks Change Loan Contract Terms for Energy Firms?

W. Blake Marsh, David Rodziewicz and Rajdeep Sengupta
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W. Blake Marsh: https://www.kansascityfed.org/research-staff/w-blake-marsh/

Economic Review, 2017, issue Q IV, 59-86

Abstract: This article examined whether the relationship between creditworthiness and loan spreads for energy firms in the syndicated loan market changed after the 2014 oil-price shock. {{p}} The authors use syndicated loans, which are jointly funded by several financial institutions, because the syndicated loan market is a major source of debt financing for oil firms. Credit conditions tightened following the oil-price shock in mid-2014.

Keywords: oil price shocks; Oil firms; Syndicated loans; Oil prices; Energy; Oil industry (search for similar items in EconPapers)
Date: 2017
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