Divisive Debt Maneuvers; Bank Stress Returns
Distressed companies are moving assets out of lenders’ reach to raise new funds and buy time as higher interest rates and a slower economy bite. These controversial debt moves — known as drop-downs — ...
27 Apr 202318min
Riskiest Distress Bet Advances; Revenge Spend Wins
The restructuring of China Evergrande’s massive debt pile has been one of the riskiest bets in all of distressed investing. Redwood and Saba are among funds that recently endorsed a plan hammered out ...
20 Apr 202320min
Junk Firms Slam Into Debt Wall; AT1s Strike Back
The takeover by creditors of German retailer Takko Fashion, with a solid operating performance, highlights the rising risk for junk-rated issuers facing a mountain of debt coming due. Some will requir...
13 Apr 202326min
Banks Get Whacked by LBO Debt; TMT Picks and Pans
Wall Street banks lost billions of dollars on leveraged buyout financing that they committed to before rates surged. A junk debt market reopening allows them to sell some of that down, but there are l...
6 Apr 202321min
Corporate Distress Spreads; Energy Junk Is a Haven
The banking crisis has made it harder and more expensive to borrow, tipping some of the riskiest companies into distress. In this episode of the Credit Edge Podcast, Eliza Ronalds-Hannon, who covers c...
30 Mar 202322min
Swiss AT1 Bond Carnage, Leisure Sector Risk
The takeover of Credit Suisse by UBS included pulling the pin on $17 billion of risky CoCo bonds, also known as Additional Tier 1s (AT1s), and sending shockwaves through global debt markets. In this e...
23 Mar 202327min
Bank Bonds Tumble Into Distress
Credit Suisse debt plunged into distress after the collapse of SVB Financial Group, spreading fear through the global banking sector. In this episode of the Credit Edge Podcast, Bloomberg News senior ...
16 Mar 202320min
Adani Crisis Drags On; China’s Reopening
Adani has solved some liquidity problems but it’s not out of the woods. The crisis-ridden Indian conglomerate still needs to regain the trust of investors and has long-term issues with transparency. I...
9 Mar 202328min
