Cloud 9fin
9fin
Leveraged finance, distressed debt, and private credit drive today’s markets. Cloud 9fin delivers expert insights on high-yield bonds, syndicated loans, direct lending, and debt restructuring. Join top analysts and investors as we explore credit markets, special situations, and private debt strategies shaping the industry.
From credit risk assessment to institutional credit trends, each episode provides actionable intelligence for fund managers, institutional investors, and financial professionals. Whether you’re tracking high-yield issuances, analyzing corporate debt, or uncovering distressed debt opportunities, we’ve got you covered.
Through its AI-powered data and analytics platform, 9fin provides everything you need to get your head around credit or win a mandate — all in one place. We help subscribers win business, outperform their peers and save time. Stay ahead in leveraged finance market trends—subscribe now for expert discussions on the forces moving global credit.
From credit risk assessment to institutional credit trends, each episode provides actionable intelligence for fund managers, institutional investors, and financial professionals. Whether you’re tracking high-yield issuances, analyzing corporate debt, or uncovering distressed debt opportunities, we’ve got you covered.
Through its AI-powered data and analytics platform, 9fin provides everything you need to get your head around credit or win a mandate — all in one place. We help subscribers win business, outperform their peers and save time. Stay ahead in leveraged finance market trends—subscribe now for expert discussions on the forces moving global credit.
Episodes
Mentioned books
Dec 19, 2025 • 29min
Tranche Talk — Looking ahead to 2026 with BofA's Pratik Gupta
In this episode of Tranche Talk, we welcome back Bank of America’s Pratik Gupta who talks with 9fin’s Tanvi Gupta on the defining moments of 2025 and what the new year will bring for CLOs.They discuss CLO being the best asset class to sell in a rate cutting cycle and the opportunities to rotate into RMBS AAAs, separating facts from fiction for private credit CLO fears and the demand landscape between Japanese banks, US banks and ETFs.They also delve into CLO equity performance, opportunities for CLO managers in portfolio trading and how CLO managers should differentiate themselves when they’re all chasing the same conservative assets.
Dec 17, 2025 • 14min
Private chat — Unlocking liquidity through private credit secondaries
In the constantly shifting landscape of private credit secondaries, diversification and strategic alignment play crucial roles as navigational aides.In this episode of Cloud 9fin, Josie Shillito, head of private credit at 9fin, delves into the burgeoning market of private credit secondaries with experts Daniel Roddick and Francois Bouillon from Ely Place Partners.They set the scene by highlighting the explosive growth in GP-led secondaries. This has been driven by a pressing need for liquidity amidst subdued M&A and IPO activity. The conversation explores how investors can strategically position themselves to capitalize on this market, emphasizing the importance of understanding the nuances of both LP-led and GP-led transactions.Have any feedback for us? Send us a note at podcast@9fin.com.
8 snips
Dec 9, 2025 • 34min
The In-Court Report with Cat Corey — The latest on backstop fees in rights offerings and DIP financings
Vince Buccola, a law professor at the University of Chicago specializing in financial distress, and Lara Sheikh, a bankruptcy legal analyst at 9fin, dive into the fascinating world of backstop fees in rights offerings and DIP financings. They dissect the implications of the ConvergeOne decision and reveal how backstop parties recover significantly more compared to non-participants. They also explore empirical research on backstop commitments, addressing valuation challenges and the surprising minimal risk faced by most backstops. It's an insightful session filled with vital trends and legal nuances!
Dec 8, 2025 • 34min
Distressed Diaries — Weil we have your attention, what is fair?
Join Daniel Bayfield, a barrister at South Square, and Lois Deasey and Matt Benson, restructuring partners at Weil, as they dissect the evolving landscape of European restructuring. They explore fairness in recent UK appeals involving Thames Water and Petrofac, shedding light on creditor treatment. The discussion highlights a shift towards out-of-court resolutions and the growing influence of private credit in distressed situations, along with legal challenges and the implications of lender interventions.
5 snips
Dec 3, 2025 • 32min
What makes the middle market?
Matt Harvey, Executive Managing Director at PGIM Private Capital, shares his expertise in middle-market direct lending with over two decades of experience. He discusses the evolving definition of the middle market and points out the challenges facing borrowers and lenders. Matt explains the factors behind recent price compression and contrasts today’s underwriting standards with the high-yield 'golden vintage.' He also highlights the opportunities in non-sponsor lending, especially with family-owned companies, while addressing retail access issues in private credit.
Nov 26, 2025 • 16min
Syndication Nation — Credit and the Cosmos
It’s not every day that we get to talk about something that’s quite literally out of this world.We’re referring to space-based data centers, which billionaire tech titans and startups alike are racing to build out as AI fever grips Wall Street and Silicon Valley. Proponents argue that space data centers offer substantial benefits versus their terrestrial counterparts, including freedom from natural disaster risks, access to unlimited free solar power and elimination of complex cooling requirements.Global head of Distressed & LevFin Max Frumes sat down with LevFin deputy editor Sasha Padbidri to unpack what this means for existing data center infrastructure and the billions of dollars of debt financing already raised by giants like Meta, CoreWeave and Amazon to fund those buildouts.Have any feedback about this episode? Send us a note at podcast@9fin.com. You can also check out our feature on space data centers here.
4 snips
Nov 25, 2025 • 27min
Navigating downturns with Hilco’s Jamie Sprayregen
Jamie Sprayregen, Vice Chairman of Global Strategy and Growth at Hilco Global, shares his insights from decades in restructuring law and rescue finance. He discusses how AI is reshaping the market and the rise of asset-backed securities from stressed issuers as creative restructuring tools. Jamie reflects on the fraud risks highlighted by the downfall of First Brands and emphasizes the need for improved diligence. He also addresses the potential impacts of tariffs and government shutdowns on the economy, while predicting a steady pace of restructurings leading into 2026.
Nov 14, 2025 • 11min
Syndication Nation — Education borrowers taken to task
Sunny Oh, a senior reporter focused on U.S. leveraged finance and education-sector borrowers, tackles the challenges facing private equity-owned education companies. She reveals how the expiration of the $190 billion ESSER funding has created a significant financial gap, prompting investors to reevaluate risks associated with firms like Houghton Mifflin. Oh also highlights the impact of falling school enrollment, trade war-related cost increases, and the potential for future restructuring in a tightening market.
6 snips
Nov 13, 2025 • 27min
Jane’s LME Addiction — Are lender voting and concentration caps the new and improved DQ lists?
Brian Resnick, a restructuring partner at Davis Polk, specializes in liability management, while Hilary Dengel focuses on sponsor finance and distressed financings. They dive into the nuances of voting and concentration caps in credit agreements, discussing their potential to revolutionize creditor organization. The duo explores whether these new provisions can outshine traditional DQ lists, and assess the impact of caps on co-op formation. With practical insights into legal drafting and market acceptance, this conversation offers a fresh perspective on evolving lending landscapes.
18 snips
Nov 6, 2025 • 25min
Distressed Diaries — More private credit cockroaches crawling out?
Join Alessia Argentieri, a senior distressed reporter at 9fin with a keen focus on European restructurings, and Gregory Rosenvinge, who analyzes private credit trends. They explore alarming trends in the private credit market, triggered by high-profile bankruptcies like First Brands. Alessia discusses the shift of private credit funds into ownership roles, while Gregory highlights new liquidity tools emerging in this space. They also delve into rising distress factors and the implications of recent regulatory scrutiny, revealing the intricate landscape of private credit.
