Cloud 9fin

Matthew Moniot, co-head of credit risk sharing at Man Group, brings extensive expertise in significant risk transfer markets. He delves into the mechanics of SRTs and how they're reshaping U.S. credit markets. Moniot contrasts European and U.S. financial regulations, highlighting unique challenges and opportunities. He also discusses the evolution of banking post-crisis, emphasizing the balance between risk and regulatory measures. New investors learn the importance of documentation and data reliability in navigating the SRT landscape.

It’s happening! Voters in the UK will head to the polls in just over a month, and most polls forecast a resounding victory for Keir Starmer and the Labour Party. Notwithstanding multiple reshuffles under the Conservatives over recent years, this would be the first proper regime change in the UK since 2010.So it’s kind of a big deal — and while the odds of a Tory defeat are so strong that some of the impact is already priced in, there are still some important implications for the credit markets.For this week’s episode of the podcast, our host Will Caiger-Smith sits down with 9fin leveraged finance reporter Ryan Daniel to discuss the implications of the election for the markets we cover.

Oliver Thym, Partner on Thoma Bravo's private credit platform, discusses the impact of AI on software companies, the growth outlook in the enterprise software sector, and why private credit investors are drawn to SaaS. Topics include evaluating software as a credit investment, the stability of investing in software companies, current trends in the software industry, and the resilience of software companies amidst economic uncertainty.

Rachel Butt, Deputy distressed editor at 9fin, uncovers the chaotic saga of Steward Health's bankruptcy. From bizarre bat infestations in Florida hospitals to allegations of money laundering in Malta, the narrative unfolds dramatically. The discussion dives into the complexities of Steward’s unique financial structure, its tangled relationships with creditors, and the political controversies surrounding its management. Listen as Rachel sheds light on the regulatory challenges and the fight to protect jobs and patient care amid financial turmoil.

Rob Fawn from PGIM Fixed Income discusses navigating the new paradigm in leveraged finance. Topics include default rate predictions, special situation strategies, aggressive liability management in Europe, cooperation agreements, French restructuring processes, challenges in levered real estate, and successful deal sourcing in distressed markets.

Finance is about money, obviously, but it’s also about narratives. That’s especially true in the world of activist investing and proxy battles, and in the high-stakes arena of distressed debt.In an age where news travels faster — and through more channels — than ever before, how do companies and investors manage their messaging?For this week’s episode of Cloud 9fin, our global head of distressed debt and restructuring, Max Frumes, sat down with Jude Gorman, the co-founder of communications firm Collected Strategies, to find out.

The SBTi’s sudden change in stance on the use of carbon credits came as a shock in the world of sustainable finance last week.In this episode, our hosts Sammy Cole and Oliver Wise, unpack the latest events and talk to Nawar Alsaadi, the CEO and founder of Kanata Advisors, a sustainable fintech advisory firm based in Toronto, to get his take on the decision.We’ll take a closer look at the uproar that followed the SBTi’s flip of the script and shine a light on the governance concerns raised by SBTi insiders. We’ll also cover the issues that have plagued carbon markets in recent years and underline why it’s crucial to establish robust and verifiable offset standards.

The end of cheap borrowing is showing its true colors — and for Intrum it’s a deep shade of red as the Swedish debt collector faces its own credit crisis.Following our deep dive into Altice last week, 9fin analyst Jennifer Munnings, distressed debt reporter Will Macadam and senior legal consultant Freddie Doust decipher the writing on the wall as Intrum mulls its restructuring options.Their discussion covers the potential for the company to follow Altice’s lead on drop-downs, and the various ramifications if a restructuring happens in the Swedish, English or US courts.

In this podcast, they discuss Altice France's massive capacity to designate subsidiaries as unrestricted, unique debt reduction strategies, complexities in insolvency scenarios, and potential pitfalls for management and investors. They also explore interplay within Altis entities, strategic management tactics, restructuring dynamics in French insolvency processes, and non-consensual financial processes for negotiation facilitation.

In this episode, David Leland from BC Partners discusses tailoring capital structures for portfolio companies in sectors like TMT and healthcare. Topics include proactive refinancing strategies, private credit usage, business restructuring, and navigating investments across jurisdictions.