Debtwired!

Sam Whittaker and Tom Howard from Lazard discuss topics on debt restructuring and distressed debt in Europe, including the evolving role of financial advisors, the impact of documentation on restructuring negotiations, and the influence of private credit on the fixed income landscape. They also explore trends in distressed debt and restructuring, the dominance of private credit in the middle market, challenges in the retail space, and the need for broad toolkit and capital solutions.

Debtwire's Dan Anghelache speaks to Charlie Robertson, Head of Macro Strategy at FIM Partners, about the recent pressure on African sovereigns, especially in light of the slew of recent military coups in the region.Charlie considers the impact of elevated fertility rates in the region on sovereign default risk and whether this risk has been priced in by credit and equity markets. In particular, he examines whether there is a negative sentiment weighing on Eurobond-issuing West African sovereigns due to recent events.#EM #sovereign #debt #distressed

Debtwire's Alex Dooler sits down with Ahmad Alanani, co-founder and CEO of Sancta Capital, to discuss the rise of non-performing loans (NPLs) in the Middle East.Following a landmark USD 1.1bn NPL transaction from ADCB earlier in the year, investors have been paying close attention to the emerging asset class. Despite the headlines, the market for NPLs still has some way to go and is bound by a host of factors that are discussed in this episode.#NPLs #emergingmarkets #distresseddebt

Debtwire’s Laura Gardner speaks with Richard Cooper and Jim Ho, partners at Cleary Gottlieb, about new legislation being considered by the state of New York, and what it means for sovereign debt restructurings.Richard explains that the changes are made up of three separate bills, which seek to create a comprehensive mechanism to restructure sovereign debt, expand the champerty defense and limit creditor recoveries. He highlights how some of these proposals lack clarity, could lead to jurisdiction migration and risk making borrowing more expensive for sovereigns.Jim explains how the UK has sought to deal with the issues from an English law perspective, where similar proposals have so far been rejected by the government.They both agree that more should be done to incentivise official and private sector to invest to try and solve sovereign debt challenges.#sovereign #debt #restructuring

Debtwire's Laura Gardner speaks to Yvette Babb, emerging market debt portfolio manager at William Blair, about the risks facing sovereigns with upcoming debt maturities in a challenging funding environment.Yvette discusses the recent bright spots coming out of Nigeria, Kenya, Egypt and Tunisia, and explains why there is growing optimism that a systemic debt crisis can be avoided. She also delves into some of the options available to countries beyond Eurobond markets, including loans, multilateral guarantees, and debt-for-nature swaps.Yvette Babb is a hard and local currency portfolio manager on William Blair’s emerging markets debt team. She is also a member of the ESG leadership team for William Blair Investment Management.#emergingmarkets #sovereign #debt #distressed #restructuring

David Turetsky of White & Case discusses lender tension, rescue financing, cryptocurrency collapse, and challenges faced by distressed companies in this informative podcast.

Co-managing editor Reshmi Basu speaks with Michael Korengold, president and CEO at Enhanced Capital. On this podcast, Michael hits on several topics, including his firm’s investment strategy amidst rising interest rates and a challenging macroeconomic environment. He also provides insight into how the private-credit asset class could find a home in a recessionary environment. And relatedly, he delves into what an upcoming distress cycle means for middle-market investing. Enhanced Capital is an impact investment firm focused on the lower middle-market, real-estate projects, and climate-related initiatives. As well as being president and CEO, Michael serves on the firm’s investment committees and Board of Directors. #distressed #debtwire #middle-market

Jeffrey Stevenson, VSS Managing Partner, explores the impact of market volatility on private credit, navigating labor costs in healthcare, and strategic positioning amid market challenges. Topics cover distressed cycle implications, sector shifts, resilient investment opportunities, and de-risking strategies in the middle market space.

On the latest episode, Sidley partner Thomas Califano delves into the current state of market volatility and the potential for a distressed cycle. Relatedly, he also discusses which industries are most vulnerable, as well as providing a deep dive into pressure points impacting the health care space.#Restructuring #Distressed cycle #Healthcare

Michael Handler, Partner at King & Spalding, discusses hot-button topics in the restructuring world, including minority lender rights, DIP financing, and creditor-on-creditor violence. The podcast explores strategic incentives and concerns in restructuring transactions, the scrutiny of DIP financing, the complexities of Chapter 11 cases, and expectations for an increase in filings in 2022.