Journal Article
Do Adverse Oil Price Shocks Change Loan Contract Terms for Energy Firms?
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;
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File(s): File format is application/pdf https://www.kansascityfed.org/documents/477/2017-Do%20Adverse%20Oil%20Price%20Shocks%20Change%20Loan%20Contract%20Terms%20for%20Energy%20Firms%3F.pdf
Bibliographic Information
Provider: Federal Reserve Bank of Kansas City
Part of Series: Economic Review
Publication Date: 2017
Issue: Q IV
Pages: 59-86