AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Grant’s Current Yield Podcast
A COMPELLING MODEL
Jul 3, 2024
Shaun Usmar, CEO of Triple Flag, discusses the challenges of Fiat currency, Triple Flag's business model in the mining sector, successes and risks in royalty and streaming, investing in the South African mining industry, and the significance of gold as a monetary asset.
39:12
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Private credit issuers face insolvency due to inability to cover interest expenses, despite optimistic pricing.
- Triple Flag's structured capital model supports miners' growth with effective risk management and diversified portfolio strategies.
Deep dives
Current Market Trends in High Yield Credit and Private Credit Issuers
In the current market environment, there is a stark contrast between the tight spreads in high yield credit, indicating economic success, and the concerning situation of private credit issuers. Around 10% of rated private credit issuers are under covenant relief, with over a third of them unable to cover their interest expenses from EBITDA, revealing insolvency. This disparity poses a challenge as creditors price investments optimistically despite underlying risks.
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode