Restructuring Plans: Discretion, Distribution of Benefits and Bargaining

On this episode of the Debtwired! Podcast, Ben Thompson, Head of EMEA Leveraged Finance Capital Markets at JP Morgan, discusses the outlook for primary issuance in the European leveraged loan and high-yield bond markets with Jelena Cvejic, Debtwire Europe’s Head of Leveraged Loans.As we are currently closing in on the second-busiest year ever in terms of gross volume in the European leveraged finance market, Thompson shares an overview of the pace and type of issuance expected in the fourth quarter.During the conversation, we discuss the evolving demand and supply dynamics, including the flow of money across floating and fixed rate asset classes, CLO creations, yield compression, refinancing and new money activity, as well as M&A and LBO deal making.We also touch upon the co-existence of the leveraged loan and high-yield bond markets with private credit.#leveragedfinance #leveragedloans #highyieldbonds #CLOs #M&A #LBO

South Square Barrister Georgina Peters and Sarah Paterson, Professor of Law at LSE, discuss the court’s discretion when sanctioning a restructuring plan.

On the latest episode of the Debtwired! podcast, Mohamed Damak, Managing Director, Global Head of Islamic Finance at S&P Global Ratings, joins Debtwire CEEMEA's Mariam Meskin to delve into one of the latest developments in the sukuk market. AAOIFI, the Accounting and Auditing Organisation for Islamic Financial Institutions, last year published its draft of Shariah Standard No. 62, which — if adopted as proposed — would alter the credit profile of sukuk from an asset-based structure to an asset-backed one.The standard could be adopted and formalised by as soon as next year. Its implementation could "disrupt" the global sukuk market, as Mohamed outlines in this podcast. In his capacity as Global Head of Islamic Finance at S&P Global Ratings, Mohamed leads their cross-practice analytical thought leadership initiatives and credit rating activities in the Islamic Finance sector globally.

In this episode, Hossein Dabiri, Head of Court Reporting at Debtwire EMEA and Dawn Grocock, Senior Legal Analyst at Debtwire Europe, recap some of the key legal and court developments from the first half of the year.

In this episode with host Amelia Weitzman, a direct lending reporter at Debtwire Europe, you will hear from Peter Dahlen, who is Global co-head of leveraged finance at Clifford Chance.Peter has been a partner since 2013 and regularly advises corporate borrowers across leveraged finance, private credit and restructuring deals.We’ll hear his summary of market conditions this year so far, his expectations for the months ahead, and crucially, his perception of risk in the current debt environment.

On this episode Debtwire's Senior Legal Analyst Dawn Grocock speaks with Kirkland's Kon Asimacopoulos, Sean Lacey, Hannah Crawford and Kate Stephenson about the state of the restructuring market, the latest on UK restructuring plans, and where the Kirkland team see the market heading.

In this episode, Claire Matheson Kirton, a partner at White & Case, joins Debtwire CEEMEA’s Laura Gardner to explore the rise in investment from the Middle East into Africa.With China stepping back as a major financier across the continent, Gulf economies are jumping in to meet Africa's vast infrastructure and energy needs.GCC investors are seizing diversification opportunities in sectors such as renewable energy, real estate, telecoms, and agriculture in a region experiencing rapid urbanisation and real economic growth needs, Claire explains.She also delves into whether this growing partnership could spur the rise of Islamic finance across Africa.Based in Dubai, Claire is a partner in White & Case’s Global Debt Finance Practice and has extensive experience in both conventional and Sharia-compliant transactions.#GCC #Africa #projectfinance #infrastructure #renewableenergy #islamicfinance

The podcast’s guest, Brian Himot, will also discuss the latest trends in private credit and opportunistic lending and several deals that SVP closed recently.

On this episode, we speak with Maples Group’s Kat Burke about the Irish restructuring toolkit and in particular, its potential as an implementation route for global workouts. Kat is Of Counsel in the Dispute Resolution & Insolvency team at Maples Group, Dublin. She is an Irish, English, US and BVI qualified corporate restructuring lawyer and has experience in key restructuring jurisdictions including New York and London.

On this episode of the Debtwired! podcast, Till Schweizer, Managing Director at Partners Group, joins Debtwire Europe’s Jelena Cvejic to discuss the current demand and supply dynamics in the leveraged loan market, and CLO positioning in light of a generally strong market and an increasing number of underperforming credits.Till Schweizer has been with Partners Group since 2007 and has 18 years of industry experience. He is part of the Liquid Loans business unit, based in London, and a member of the Global Liquid Loans Investment Committee and Structured Credit Investment Committee.Schweizer reflects on the growing strength of the leveraged loan market and gives his outlook on upcoming loan supply and the revival of M&A activity.He then takes us through the evolving CLO landscape and shares his views on new CLO issuance, refinancing, resets, and liquidations. As we touch upon the effect of higher-for-longer interest rates on the sustainability of capital structures, Schweizer talks about positioning CLOs amid an increasing number of underperforming credits.He highlights the relevance of loan documentation features such as basket capacities and the ability to change governing law in cross-border transactions, given a recent increase in liability management exercises in the US. #leveragedfinance #leveragedloans #CLOs