Debtwired!

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The restructuring podcast from the Debtwire editorial team.

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    • Feb 25, 2026 LATEST EPISODE
    • every other week NEW EPISODES
    • 21m AVG DURATION
    • 90 EPISODES


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    Latest episodes from Debtwired!

    2026 Playbook: AI disruption, LME & Chapter 11 trends

    Play Episode Listen Later Feb 25, 2026 53:37


    In this episode of the Debtwired Podcast, host Madalina Iacob is joined by Wariz Anifowoshe, Head of Restructuring at Fortress Investment Group, Kevin Fortunato, Portfolio Manager at Benefit Street Partners, and Scott Greenberg, Global Head of Restructuring at Gibson Dunn. A central theme of the discussion is AI-driven disruption, particularly in software, and how investors are positioning defensively while selectively hunting for opportunities. Panelists emphasize that AI risk is already reshaping maturity extensions, underwriting assumptions, and liability management decisions, especially for businesses facing rapid technological change. The group also explores what's driving the unprecedented speed at which loans are trading down from CLO technicals, group-formation risk, and growing familiarity with liability management exercises (LMEs). Speakers expect both more LMEs and an uptick in Chapter 11 filings this year, including failed LMEs from prior vintages where balance sheets were fixed, but businesses were not. They unpack why LMEs are neither inherently successes nor failures, why every situation is bespoke, and how sponsors and not creditors typically set these processes in motion. Finally, the speakers conclude that cooperation agreements (co-ops) remain an essential and widely used tool for collective creditor action, and there has been no meaningful slowdown in their use since Optimum filed an anti-co-op lawsuit against its creditors.

    Life after Petrofac: South Square's Matthew Abraham discusses fairness, forum shopping and voting through the lens of Argo Blockchain restructuring plan

    Play Episode Listen Later Feb 18, 2026 25:02


    In this podcast Debtwire Europe's Hossein Dabiri and South Square's Matthew Abraham discuss all the key takeaways from a very interesting Part 26A restructuring plan promoted by crypto mining company Argo Blockchain.

    Full recoveries, untangling, and stories at FTX with Sullivan & Cromwell

    Play Episode Listen Later Jan 27, 2026 31:41


    To kick off 2026, three Sullivan & Cromwell partners join Legal Lens to discuss untangling one of the biggest cases in recent memory in FTX, reaching 100%+ recoveries for creditors, inside jokes at the collapsed firm, and more.

    ConvergeOne ruling: What it means for excluded lenders and the future of RSAs

    Play Episode Listen Later Jan 14, 2026 13:54


    Proskauer's Global Co-Chair of Restructuring, David Hillman, joins Debtwire reporter Ayse Kelce to discuss the recent ConvergeOne ruling where excluded lenders secured a victory in the US District Court for the Southern District of Texas. In this episode, Hillman, who represented the minority lender group, breaks down how the bankruptcy plan was overturned due to an exclusive backstopping opportunity granted to majority lenders—ultimately violating the equal treatment requirement. Hillman shares his perspective on what this decision could mean for the future of liability management exercises, restructuring support agreements and creditor negotiations.

    Debtwired Miami 2025: Takeaways and predictions for year's end

    Play Episode Listen Later Dec 23, 2025 28:53


    On-site at Debtwire's Restructuring Forum 2025, Legal Lens host and Deputy Courts Editor Andy Serbe interviews a series of restructuring experts on what their takeaways for this year were, and predictions for '26, from Altice lawsuits to key court rulings and sectoral challenges.

    Deutsche Bank Private Bank's CIO Deepak Puri on 2026 Market Outlook

    Play Episode Listen Later Dec 22, 2025 23:25


    In this episode of the Debtwired podcast, Deutsche Bank's Chief Investment Officer for the Americas Deepak Puri joins Alvaro Ledgard to break down the market outlook for 2026. Puri discusses why next year could be a true “stress test” for the global economy, as tariff-driven supply shocks, shifting labor dynamics and US fiscal policy take effect. Puri shares Deutsche Bank's expectations for Fed rate cuts next year and explains how these moves could reshape the US yield curve. The conversation dives into credit markets, high yield issuance and the biggest investment opportunities that lie ahead.

    Lazard - Tyler Cowan and Jayme Goldstein

    Play Episode Listen Later Dec 19, 2025 56:37


    In this episode of Debtwired! Jayme Goldstein, co-chair of Paul Hastings financial restructuring group, and Tyler Cowan, global head of restructuring and liability management at Lazard, join Debtwire co-managing editor, Madalina Iacob, to discuss how the restructuring landscape has evolved over the past decade and what's shaping the next wave of restructurings. Expect more in-court processes in 2026 with lenders willing to “take the keys” as tight documents hinder further LMEs. The podcast explores the rise of cooperation agreements as a critical tool for creditors, and the surprising wave of non-sponsor private company bankruptcies, including First Brands and Pine Gate Renewables.

    Private credit in the age of AI: Lender perspectives with DLA Pipers Matt Schwartz

    Play Episode Listen Later Dec 12, 2025 22:58


    In this episode, Debtwire's Amelia Weitzman sits down with DLA Piper's Matt Schwartz to unpack the rapid rise of AI in private credit and what it means for lenders, borrowers, and the future of dealmaking.Private credit is entering a new era as AI tools rapidly change how information is used, risks are assessed, and agreements are negotiated. DLA Piper partner Matt Schwartz breaks down how these shifts are unfolding in real time and what they mean for the industry.

    First Brands: Red flags missed, fights ahead, and what creditors can recover

    Play Episode Listen Later Dec 1, 2025 29:18


    This episode of the Debtwired podcast explores the swift collapse of auto parts company First Brands Group into Chapter 11, the overlooked warning signs on Wall Street, and the high-stakes legal and financial battles now unfolding.Featuring insights from Debtwire's head of research Tim Hynes, reporter Kunyi Yang, global head of legal analysis, Sara Tapinikes, and court team editor Taylor Harrison, the discussion breaks down what's at stake for secured lenders, unsecured creditors, and trade claim holders as the case navigates a protracted and fiercely contested restructuring.The episode also delves into the potential for substantive consolidation—a move that could significantly reshape recoveries across creditor classes.

    Blackstone's Campbell on financing the AI and energy transition boom

    Play Episode Listen Later Nov 10, 2025 25:47


    In this episode of the Debtwired podcast, Blackstone's Rick Campbell joins Melina Chalkia, Debtwire's primary market reporter for North America, to discuss how the landscape for infrastructure financing is evolving.In this episode, Campbell talks about the shift of infrastructure finance away from traditional banks and toward private credit, alongside a growing demand for power and a global push for digitization. He explains how themes like AI, data centers and renewable energy are converging, with data-center developers starting to build their own generation capacity. Campbell breaks down how these project financing deals are structured and how Blackstone's “corporate solutions” strategy exemplifies that approach.Campbell is a Senior Managing Director with Blackstone Credit and Insurance (BXCI) based in Houston. He is involved with originating and executing investments in the energy transition, renewable energy and sustainable infrastructure sectors. Before joining Blackstone in 2022, Campbell worked as a Managing Director in the Global Infrastructure Finance Group at Citi for nearly 15 years.

    Clearlake's Pade weighs in on deal flow, LMEs and reputation

    Play Episode Listen Later Sep 8, 2025 30:15


    In this episode of Debtwired!, James Pade, partner and managing director at Clearlake Capital Group, joins Debtwire co-managing editor, Madalina Iacob, to discuss investing opportunities after Clearlake consolidated its credit arms under one roof.Pade also digs into how lenders are navigating liability management exercises, the challenges faced by smaller CLO managers, and why strong sponsor relationships matter more than ever. Pade notes that Clearlake recently had discussions with stakeholders focused on building stronger, more direct communication with CLO managers and broadly syndicated investors, although it was never an “apology tour.”

    Houlihan Lokey's Gijs de Reuver on the erosion of creditor protections

    Play Episode Listen Later Sep 4, 2025 14:59


    Gijs de Reuver, managing director in Houlihan Lokey's restructuring team, discusses the erosion of creditor protections in Europe and the subsequent rise in creditor-on-creditor violence on the latest edition of the Debtwired! Podcast. Gijs also touches on recent high-profile restructuring court decisions in the UK and the role of CDS in restructuring.

    GA Group's Ryan Mulcunry on retailers' increasing need for transition capital and the evolution of asset dispositions

    Play Episode Listen Later Aug 14, 2025 9:32


    Ryan Mulcunry of GA Group joined Debtwire's Senior Reporter Danielle Saba on Debtwired to talk about filling in the lending gaps for retailers and the evolution of asset dispositions.

    Brigade Capital's Pavlin Kumchev on Solving Life

    Play Episode Listen Later Jul 29, 2025 10:49


    We'd touch on topics like cheap options, tail risks, base case scenarios – but instead of credit strategies, we're going to hear about how these can be applied to our lives.Pavlin has recently published a book called “Solving Life: Mastering Decision Making with Investment Wisdom”, which reached #1 in the New Releases and #5 in Investment Books overall categories in the UK in its first month on Amazon.

    Are Retail Companies Fixable in Modern Day Restructurings?

    Play Episode Listen Later Jul 28, 2025 13:06


    Holly Etlin, retail turnaround management specialist at AlixPartners, discusses the benefits of restructuring companies inside and outside the courtroom, from prearranged to formal filings and even the rare LME in between in the space.

    NorthWall Capital's Fabian Chrobog on protecting against the downside

    Play Episode Listen Later Jul 23, 2025 26:23


    Fabian Chrobog, founder and CIO of NorthWall Capital, discusses opportunities in the European credit markets, why new money is the new distressed investing, and his views on how best to protect against downside risk on the latest edition of the Debtwired! Podcast. Fabian also talks about some recent landmark transaction the fund has been involved with in the NPL securitisation and legal assets space.

    SMBC's Ben Millard talks aviation credit despite turbulence

    Play Episode Listen Later Jul 21, 2025 18:53


    In this episode of Debtwired, SMBC Americas' Ben Millard joins Debtwire's reporter Melina Chalkia to break down how the aviation debt markets have evolved post-COVID, from loyalty-backed financings to the emergence of aircraft CLOs. With airlines still focused on deleveraging and preserving credit ratings, Millard explains why non-traditional collateral like frequent flyer programs has become a mainstay in new deals and how investor appetite remains strong despite recent turbulence in the sector.Millard also explores the rise of aviation ABS and CLO issuance, highlighting SMBC's role in several landmark transactions, including the American Airlines mileage-backed TLB and Carlyle's aircraft ABS. He touches on restructuring dynamics in the sector, as well as what geopolitical risks like tariffs could mean for aircraft financing.Millard is a Director in the Transportation Department at SMBC Americas. SMBC has been a key player in aviation lending for a long time. SMBC is one of the largest financers of the new economy, from data centers to real estate, offering a debt-focused franchise with a global lens, according to Millard. SMBC Americas has evolved into a corporate and investment bank, while maintaining its efficiency in commercial banking and continuing to diversify its business model to best suit clients.

    Rising distress in private credit with Interpath's Robert von Finckenstein and Chris Hall

    Play Episode Listen Later Jul 7, 2025 16:14


    On the Debtwired! podcast, Robert von Finckenstein and Chris Hall at Interpath, join Johannes Koch, restructuring reporter at Debtwire, to delve into the mechanics of rising distress in European private credit – a trend both speakers expect will continue to captivate the market with more restructurings and debt-to-equity swaps.We look at the main triggers for continued stress in private credit, assess rising default rates, highlight which sectors are under pressure and explore whether private credit, ultimately, is equipped to handle portfolio stress.#restructuring #privatecredit #distress #debtfund

    Navigating the high yield autos sector

    Play Episode Listen Later Jul 2, 2025 19:37


    On the Debtwired! Podcast, James Hogarth, a Partner at long-short credit fund PVTL Point, joins Debtwire Europe's Head of High Yield Adam Samoon to explore trade opportunities in the European automotive sector.PVTL Point is a London-based investment firm founded by Kunal Shah in 2024. They operate an opportunistic European long/short credit strategy across the breadth of European credit, from performing through to distressed.The European automotive sector has faced a prolonged period of structural transformation and cyclical volatility. Challenges include the capex cycle, EV transition, supply chain issues and tariffs.The podcast explores the difficulties ahead as well as which sub-sectors and thematic trades can offer the best considerations for investors. The podcast also examines the outlook for high yield sector credits such as Adler Pelzer, Jaguar Land Rover and Aston Martin.#highyield #highyieldbonds #bonds #debtwired

    Restaurant Franchisees Navigating Restructuring Challenges

    Play Episode Listen Later Jun 27, 2025 17:39


    In this episode of Debtwired! Dan Dooley, CEO at MorrisAnderson, joins Debtwire senior reporter Danielle Saba, to discuss the state of burger and pizza restaurant brands and their franchisees, restructuring triggers and processes, along with what signs to watch for special situations to come.#restaurantfranchisees #burgerking #hardees #deltaco #bankruptcy

    How trade credit insurers could gate crash restructurings with Horst Fuerpass

    Play Episode Listen Later Jun 17, 2025 10:33


    In this episode of the Debtwired! Podcast, Horst Fuerpass, partner at Falkensteg, joins Johannes Koch, restructuring reporter at Debtwire, to talk about the precarious and often overlooked role trade credit insurers play in financial restructurings.With a particular emphasis on cases in the automotive sector, a hotbed of restructuring activity in Germany, Horst unpacks how trade credit insurers operate, the potential risks you can run into if they are brought into a process too soon or too late, and how to manage this key stakeholder that has the potential to gate crash a restructuring if not appropriately managed.

    High Yield trade thoughts with Clark Nicholls

    Play Episode Listen Later Jun 6, 2025 9:07


    On the Debtwired! Podcast, Clark Nicholls, CIO of Aucit Investment Management, joins Debtwire Europe's Head of High Yield Adam Samoon to explore trade ideas in the European High Yield asset class.Aucit Investment Management focuses on capturing the richest alpha trades in high yield and identifying the best yields per unit of risk.European High Yield index spreads have tightened in recent weeks but there are still reasons to consider investing in the asset class. There are opportunities in high rated credits as well as lower rated CCCs depending on risk tolerance according to Nicholls.The podcast explores which sectors and thematic trades can offer the best considerations for investors currently.#highyield #highyieldbonds #bonds #debtwired

    Davis Polk's Brian Resnick on LMEs, restructurings and his music passion

    Play Episode Listen Later May 27, 2025 28:58


    In this episode of Debtwired!, Brian Resnick, partner in Davis Polk's restructuring group and head of the firm's Liability Management & Special Opportunities practice, joins Debtwire co-managing editor, Madalina Iacob, to discuss the current state of restructurings, how LMEs have evolved in the past year, what creative workaround structures he has seen post the Fifth Circuit decision in Serta, and the evolution of Davis Polk's preeminent restructuring practice.Brian also shares with us how he transitioned to law from being a Juilliard-trained professional musician playing on Broadway and Saturday Night Live, and how he co-produced a Tony Award-winning Broadway show.

    Weil's Justin Lee weighs in on LMEs amid market uncertainty

    Play Episode Listen Later May 15, 2025 22:58


    In this episode of the Debtwire podcast, Justin Lee, partner at Weil, Gotshal & Manges, joins Melina Chalkia, Debtwire's primary market reporter for North America, to unpack the evolving landscape of liability management exercises. Justin Lee is the co-head of Weil's banking and finance practice and global head of liability management and strategic capital solutions. His practice involves advising institutional lenders, direct lenders, asset managers and corporate borrowers on all types of financing transactions. Lee has worked on high profile deals for companies like Clarios Global, Hertz, Krispy Kreme and Dye & Durham. With 2024 dubbed the “year of LMEs,” this episode explores whether that momentum is carrying into 2025. Lee weighs in on how sponsor creativity is evolving and whether the tariff-driven market volatility is shifting the tone. He dives into the structural trends shaping deal terms, the rise of co-op groups and how borrower-lender dynamics are changing. Lee also goes through Weil's practice, what the pipeline looks like and what the future holds for LMEs.

    Scott Greenberg on the state of LMEs, group formation and cross border co-ops

    Play Episode Listen Later May 5, 2025 35:39


    In this episode of Debtwired, Scott Greenberg, global chair of Gibson Dunn's restructuring practice and a member of the firm's executive committee, joins Debtwire co-managing editor, Madalina Iacob, to discuss how the shifting market dynamics are influencing deal activity, liability management exercises (LMEs), and the restructuring outlook for the year.Scott talks about multi-tier LME trends, carve-out premiums, group formation strategies, and the impact of cooperation agreements on deal outcomes. He also takes a deep dive into cross-border LMEs and the cultural differences impacting investment decisions.

    Credit opportunities during market volatility with Oaktree's Hinchman and Parker

    Play Episode Listen Later May 5, 2025 16:10


    In this episode of Debtwired, Oaktree's Brook Hinchman, head of North America for the global opportunities strategy, and Jared Parker, co-head of the team, join host Debtwire reporter Ayse Kelce to discuss credit strategies during macroeconomic volatility and their outlooks on different sectors. Oaktree raised USD 16bn with its Oaktree Opportunities Fund XII this year to invest in opportunistic liquid credits, rescue financings, debtor-in-possession financings, exit financings, loan portfolios, platforms and opportunistic capital solutions. In this conversation, Hinchman and Parker share their perspectives on how to create opportunities in public and private credit during market uncertainty. They share insights about sectors that are expected to experience more pressure and others that are more resilient to tariff and rate pressures.

    From Data Centers to Solar ABS – Inside Esoteric ABS with Conning's Nowakowski

    Play Episode Listen Later Apr 30, 2025 21:26


    In this episode of the Debtwired! podcast, Mike Nowakowski, Head of Structured Products at Conning, joins Melina Chalkia, Debtwire's primary market reporter for North America, to break down why esoteric ABS has become one of the most compelling areas of the credit market for 2025. Nowakowski leads the structured products team at $ 170bn global asset manager Conning, which invests across ABS, CMBS, RMBS and other securitized markets. Esoteric ABS is gaining traction, now making up more than 30% of total ABS issuance, with outstanding supply at nearly $900bn. In this conversation, Nowakowski explains the advantages of investing in esoteric assets, like shipping containers, data centers and music royalties, compared to traditional fixed-income investments. He shares insights on data center ABS deals, the increasing crossover between ABS and CMBS, how institutional investors are increasingly allocating capital to esoteric ABS, and the rapidly evolving solar ABS market.

    Bain Capital's Michael Ewald on private credit opportunities amid volatility

    Play Episode Listen Later Apr 23, 2025 18:04


    On this episode of the Debtwired! podcast, Michael Ewald, Bain Capital's global head of private credit, joins Melina Chalkia, Debtwire's primary market reporter for North America, to unpack how one of the biggest players in the space is navigating a volatile credit environment. Ewald, who joined Bain Capital in 1998, is a Partner, Global Head of the Private Credit Group, Portfolio Manager for the Middle Market Credit and Senior Direct Lending strategies, and a Credit Committee member. He also serves as CEO of Bain Capital Specialty Finance, a registered business development company. In this conversation, Ewald discusses how Bain is deploying capital amid the volatility driven by President Trump's tariff threats. He explains where he finds opportunities in today's market, what sectors he avoids and his continued focus on the core middle market. The conversation also touches on key shifts in covenant protections and pricing. As syndicated deal flow slows, private credit continues to draw interest.

    Private Capital, Public Interest: The Rise of Alternative Investing with Claire Madden

    Play Episode Listen Later Apr 23, 2025 17:37


    In this episode of Debtwired, Claire Madden, a founding partner at Connection Capital, discusses the evolution of private capital since the firm's inception in 2010. She explores changing investor appetite, the sectors and asset classes currently attracting interest, and how macroeconomic and political factors are influencing investment strategies. Claire also highlights Connection Capital's approach to addressing risks, liquidity concerns, and the future of private capital investments.

    Private Credit and Real Estate: Gravis's Albane Poulin on Infrastructure Debt

    Play Episode Listen Later Apr 17, 2025 14:34


    In this episode of Debtwired, Albane Poulin, Head of Private Credit at Gravis, discusses the evolving role of private credit in infrastructure and real estate finance across the UK and globally.

    JP Morgan's Thomas Kennedy on investment opportunities amid rising uncertainty

    Play Episode Listen Later Feb 12, 2025 16:55


    On this episode of the Debtwired! podcast, Thomas Kennedy, Chief Investment Strategist for JP Morgan Private Bank, joins Melina Chalkia, Debtwire's primary market reporter for North America, to discuss how debt markets are responding to the shifting monetary policy and geopolitical tensions. Kennedy leads the development of the bank's global economic and investment views, while serving as the chair of the Global Investment Strategy Group. Previously, Kennedy worked at the Federal Reserve Bank of New York for eight years, holding various research and policy positions.In this conversation, Kennedy discusses the interest rate outlook for 2025 and how high yield markets will be impacted by President Trump's tariffs. He highlights where he finds the best investment opportunities in debt markets and direct lending. #JPMorgan #Outlook #Debt, #Investment Opportunities #Direct Lending

    The impact of the NPL directive in Germany with W&C's Dennis Heuer

    Play Episode Listen Later Feb 11, 2025 16:00


    Dennis Heuer, partner at White & Case, joins Debtwire's Johannes Koch to explore the impact of the Secondary Credit Markets Act (Kreditzweitmarktgesetz) on the market for non-performing loans.The act, or NPL-directive for short, was introduced just over a year ago in Germany to help foster a deeper and more liquid secondary market for non-performing loans. Now that the dust has settled on its introduction, Heuer reviews the basic tenants of the law, how it has impacted market participants and ultimately, gives us a view on whether it has delivered, or has yet to deliver, on its promise.Heuer is a partner at White & Case and an expert in structured finance and securitisation within the law firm's EMEA Structured Finance Group. He represents clients, among them banks, insurance companies, debt collectors and multinational corporates on a wide range of cross-border transactional and advisory matters.

    Structuring Success: Securing the Right Debt Deal for Every Business, with Danyal Khan

    Play Episode Listen Later Feb 6, 2025 17:18


    In this episode of Debtwired!, host Amelia Weitzman speaks with Danyal Khan, founder of Altocrest Advisory, about the challenges businesses face in debt financing. With over a decade in institutional banking and advisory roles, Khan discusses his motivation for launching a boutique advisory firm to better serve UK businesses, especially with EBITDA between £1-5 million, a segment often overlooked by larger financial institutions.Khan explains how debt advisory services can help businesses navigate a complex and expanding lending landscape, ensuring they secure financing suited to their needs. He highlights common mistakes businesses make when raising debt, misconceptions about debt, and the benefits of boutique advisory firms. #privatecredit #M&A #Debtwire #dealfinancing #refinancing

    PGIM's Engin Okaya on private credit opportunities and the use of AI in investments

    Play Episode Listen Later Dec 18, 2024 16:35


    On the latest episode of the Debtwired! podcast, Engin Okaya, executive managing director at PGIM Private Capital, joins Melina Chalkia, Debtwire's primary market reporter for North America, to discuss trends and strategies in private credit. Okaya oversees the private placement and mezzanine activity for PGIM Private Capital's Atlanta, Chicago, Minneapolis and New York Global Corporate Finance offices. She is also a partner of PGIM Capital Partners, the middle-market mezzanine debt and structured equity fund management business, sponsored by PGIM Private Capital. In this conversation, Engin explains PGIM's approach to evaluating lending opportunities, emphasizing a structured framework that balances risk and return. She highlights the appeal of middle-market companies and discusses the growing collaboration between private credit firms and banks to diversify portfolios and enhance deal origination. The conversation also touches on sector-specific investment opportunities in private credit for 2025. Lastly, Engin elaborates on the growing role of artificial intelligence in private credit investment decisions and highlights her view of AI as a tool to enhance, not replace, human decision-making.#PGIM, #Private Credit, #Market Opportunities, #Artificial Intelligence

    Navigating the Mixed Terrain of Mid-Market Documentation with Macfarlanes

    Play Episode Listen Later Dec 18, 2024 30:40


    In this episode, Debtwire's Amelia Weitzman is joined by Kirstie Hutchinson and Adam Caines, both private capital partners at Macfarlanes, to discuss documentation in Europe's mid-market. Listen in to hear how much the gradual loosening of documentation is putting direct lenders on the backfoot of borrowers, whether there are any new clauses that raise alarm bells, and much more.

    Paul Hastings' Jennifer Daly on private credit trends and deal structure

    Play Episode Listen Later Dec 12, 2024 33:19


    Jennifer Daly, head of private credit and special situations at Paul Hastings talks to Madalina Iacob, co-managing editor of Debtwire North America about trends in the private credit market and her outlook on deal environment under the Trump administration. She delves into deal structures and the latest covenant protections that private lenders are requesting.

    BNP Paribas' Laleh Bashirrad on leveraged finance trends and 2025 outlook

    Play Episode Listen Later Dec 6, 2024 15:00


    On the latest episode of the Debtwired! podcast, Laleh Bashirrad, managing director at BNP Paribas' leveraged syndicate team, speaks to Melina Chalkia, primary markets reporter of Debtwire North America, about the latest trends in the broadly syndicated market and the 2025 outlook.Bashirrad has over two decades of credit experience advising sponsors as well as large and midcap clients on capital structure and pricing considerations for buyouts, acquisitions, recapitalizations and refinancings. In this podcast, Bashirrad gives an overview of the current supply and demand dynamics in the BSL market and outlines her optimistic view on demand for high yield products. While she expects the trend of refinancings to continue to dominate in the early months of 2025, she notes the building M&A pipeline could bring forth robust activity for the rest of the year. Bashirrad also highlights partnership opportunities between BSL and private credit, which are often seen as competing market players.

    Lloyds & Oaktree's Strategic Edge in Sponsor-Backed Lending

    Play Episode Listen Later Oct 31, 2024 7:21


    In this episode, Debtwire's Amelia Weitzman is joined by Nael Khatoun, an MD and portfolio manager within Oaktree's European private credit strategy. We dive into the newly formed partnership between Oaktree Capital and Lloyds Bank, a strategic alliance aiming to redefine private credit solutions in the UK's highly competitive market. Our guest discusses how this collaboration is already creating valuable opportunities by blending Lloyds' market expertise with Oaktree's capital strategies, delivering faster, more flexible financing options for clients in a tightening credit environment. We also explore key market risks, including elevated interest rates, the rising influence of retail investors in private credit, and sector-specific investment trends such as life sciences and NAV finance. #privatecredit #directlending #M&A #debt #debtwire

    Private Credit FIG Trends- Q&A with Herbert Smith Freehills' Finance Partners

    Play Episode Listen Later Oct 22, 2024 16:01


    Debtwire's Amelia Weitzman is joined by Ambarish Dash and Will Nevin, partners within Herbert Smith Freehill's banking and finance division. Will is a London-based partner with over 20 years of experience in acquisition and leveraged finance, and Ambarish is also partner in the London office specializing in domestic and cross-border leveraged finance, particularly advising private equity sponsors and financial institutions on acquisition financings.We'll hear their views on recent trends in the financial institutions market, or ‘FIG' as it's referred to, with a focus on private credit terms.#privatecredit #FIG #HerbertSmithFreehills

    JP Morgan's Ben Thompson discusses LevFin market outlook

    Play Episode Listen Later Oct 11, 2024 19:22


    On this episode of the Debtwired! Podcast, Ben Thompson, Head of EMEA Leveraged Finance Capital Markets at JP Morgan, discusses the outlook for primary issuance in the European leveraged loan and high-yield bond markets with Jelena Cvejic, Debtwire Europe's Head of Leveraged Loans.As we are currently closing in on the second-busiest year ever in terms of gross volume in the European leveraged finance market, Thompson shares an overview of the pace and type of issuance expected in the fourth quarter.During the conversation, we discuss the evolving demand and supply dynamics, including the flow of money across floating and fixed rate asset classes, CLO creations, yield compression, refinancing and new money activity, as well as M&A and LBO deal making.We also touch upon the co-existence of the leveraged loan and high-yield bond markets with private credit.#leveragedfinance #leveragedloans #highyieldbonds #CLOs #M&A #LBO

    Restructuring Plans: Discretion, Distribution of Benefits and Bargaining

    Play Episode Listen Later Sep 9, 2024 26:28


    South Square Barrister Georgina Peters and Sarah Paterson, Professor of Law at LSE, discuss the court's discretion when sanctioning a restructuring plan.

    AAOIFI Shariah Standard No. 62 with S&P's Mohamed Damak

    Play Episode Listen Later Aug 27, 2024 12:36


    On the latest episode of the Debtwired! podcast, Mohamed Damak, Managing Director, Global Head of Islamic Finance at S&P Global Ratings, joins Debtwire CEEMEA's Mariam Meskin to delve into one of the latest developments in the sukuk market. AAOIFI, the Accounting and Auditing Organisation for Islamic Financial Institutions, last year published its draft of Shariah Standard No. 62, which — if adopted as proposed — would alter the credit profile of sukuk from an asset-based structure to an asset-backed one.The standard could be adopted and formalised by as soon as next year. Its implementation could "disrupt" the global sukuk market, as Mohamed outlines in this podcast. In his capacity as Global Head of Islamic Finance at S&P Global Ratings, Mohamed leads their cross-practice analytical thought leadership initiatives and credit rating activities in the Islamic Finance sector globally.

    1H24 Court and Legal Round Up

    Play Episode Listen Later Jul 25, 2024 20:10


    In this episode, Hossein Dabiri, Head of Court Reporting at Debtwire EMEA and Dawn Grocock, Senior Legal Analyst at Debtwire Europe, recap some of the key legal and court developments from the first half of the year.

    Q3 shows early signs of thaw in a frozen M&A market-- with Clifford Chance

    Play Episode Listen Later Jul 18, 2024 11:34


    In this episode with host Amelia Weitzman, a direct lending reporter at Debtwire Europe, you will hear from Peter Dahlen, who is Global co-head of leveraged finance at Clifford Chance.Peter has been a partner since 2013 and regularly advises corporate borrowers across leveraged finance, private credit and restructuring deals.We'll hear his summary of market conditions this year so far, his expectations for the months ahead, and crucially, his perception of risk in the current debt environment.

    The state of the restructuring market and future outlook with Kirkland and Ellis

    Play Episode Listen Later Jun 24, 2024 17:28


    On this episode Debtwire's Senior Legal Analyst Dawn Grocock speaks with Kirkland's Kon Asimacopoulos, Sean Lacey, Hannah Crawford and Kate Stephenson about the state of the restructuring market, the latest on UK restructuring plans, and where the Kirkland team see the market heading.

    The Middle East's investment push into Africa with White & Case

    Play Episode Listen Later May 31, 2024 14:55


    In this episode, Claire Matheson Kirton, a partner at White & Case, joins Debtwire CEEMEA's Laura Gardner to explore the rise in investment from the Middle East into Africa.With China stepping back as a major financier across the continent, Gulf economies are jumping in to meet Africa's vast infrastructure and energy needs.GCC investors are seizing diversification opportunities in sectors such as renewable energy, real estate, telecoms, and agriculture in a region experiencing rapid urbanisation and real economic growth needs, Claire explains.She also delves into whether this growing partnership could spur the rise of Islamic finance across Africa.Based in Dubai, Claire is a partner in White & Case's Global Debt Finance Practice and has extensive experience in both conventional and Sharia-compliant transactions.#GCC #Africa #projectfinance #infrastructure #renewableenergy #islamicfinance

    SVP Private Credit

    Play Episode Listen Later May 13, 2024 13:19


    The podcast's guest, Brian Himot, will also discuss the latest trends in private credit and opportunistic lending and several deals that SVP closed recently.

    Ireland as an international restructuring hub with Maples Group's Kathlene Burke

    Play Episode Listen Later Apr 30, 2024 18:32


    On this episode, we speak with Maples Group's Kat Burke about the Irish restructuring toolkit and in particular, its potential as an implementation route for global workouts. Kat is Of Counsel in the Dispute Resolution & Insolvency team at Maples Group, Dublin. She is an Irish, English, US and BVI qualified corporate restructuring lawyer and has experience in key restructuring jurisdictions including New York and London.

    LevLoan market dynamics and CLO positioning with Partners Group's Till Schweizer

    Play Episode Listen Later Apr 24, 2024 12:37


    On this episode of the Debtwired! podcast, Till Schweizer, Managing Director at Partners Group, joins Debtwire Europe's Jelena Cvejic to discuss the current demand and supply dynamics in the leveraged loan market, and CLO positioning in light of a generally strong market and an increasing number of underperforming credits.Till Schweizer has been with Partners Group since 2007 and has 18 years of industry experience. He is part of the Liquid Loans business unit, based in London, and a member of the Global Liquid Loans Investment Committee and Structured Credit Investment Committee.Schweizer reflects on the growing strength of the leveraged loan market and gives his outlook on upcoming loan supply and the revival of M&A activity.He then takes us through the evolving CLO landscape and shares his views on new CLO issuance, refinancing, resets, and liquidations. As we touch upon the effect of higher-for-longer interest rates on the sustainability of capital structures, Schweizer talks about positioning CLOs amid an increasing number of underperforming credits.He highlights the relevance of loan documentation features such as basket capacities and the ability to change governing law in cross-border transactions, given a recent increase in liability management exercises in the US. #leveragedfinance #leveragedloans #CLOs

    Key takeaways from Aggregate Holdings' restructuring with DLA Piper

    Play Episode Listen Later Apr 3, 2024 29:25


    DLA Piper's David Manson unpacks the key lessons from Germany-focused real estate business Aggregate Holdings' contested restructuring plan process before the English High Court in an interview with Debtwire Europe's Hossein Dabiri.

    Can we call private credit, private credit anymore? with A&O's Hannah Gates

    Play Episode Listen Later Mar 20, 2024 13:53


    On the latest episode of the Debtwired! Podcast, Hannah Gates answers a range of questions on how private credit and bank lending markets are converging in new and unforeseen ways with Debtwire Europe's Johannes Koch.Hannah specialises in lender-side domestic and cross-border leveraged finance transactions across the credit spectrum. Her practice covers acquisition and event-driven finance, and other structured finance transactions, across a wide range of capital structures.Her extensive experience of private credit transactions makes her ideally placed to advise clients on transactions where potential financing options require knowledge of both the syndicated and private debt markets.#privatecredit #banklending #leveragedbuyouts #debtwired #podcast

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