State of Distressed Debt: Axar’s Axelrod Keeping Loan-to-Own Alive
FICC Focus
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Navigating Distressed Debt Strategies
This chapter explores the intricacies of sourcing deals in the private credit market, with a keen focus on direct lending and the obstacles lenders face, particularly during distressed situations. It highlights the role of Collateralized Loan Obligations (CLOs) in managing defaults and emphasizes the importance of liquidity and shareholder collaboration in distressed debt investing. Additionally, the chapter discusses the evolving landscape of creditor agreements and the behaviors of lenders as they navigate increased corporate debt, shedding light on concepts like 'zombie companies' and the implications for management and talent.
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