Cloud 9fin

9fin
  • 5.0 (14)
  • Business
  • Updated Semiweekly

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.

  1. 1d ago ·  Video

    Nube 9fin — Privatizations and concessions across Argentina

    Javier Milei’s privatization push is reopening Argentina’s infrastructure to private capital. But turning investor interest into long-term financing hinges on credible contracts, predictable tariffs and stable foreign-exchange rules. In this first episode of a two-part series, 9fin senior credit analyst Marina Varady joins Jimena Vega Olmos, a partner at Beccar Varela, Gonzalo Santamaría, a partner at Marval, and Gustavo Kopyto, a board member at TGN, to assess opportunities across privatizations, concessions and new projects. Oil, gas and mining are top of mind for investors, with export revenues and RIGI protections helping mitigate Argentine risk. The discussion also covers AySA, road concessions and planned high-voltage transmission tenders. Kopyto draws on TGN’s experience with frozen peso tariffs and dollar-linked debt to explain why respecting contracts matters. Vega Olmos outlines the return of project finance, where repayment depends on project cash flows, long-term offtake agreements and robust security packages rather than primarily on a sponsor’s balance sheet. Santamaría, in turn, highlights opportunities in export-oriented oil, gas and mining projects, while emphasizing the need for regular tariff adjustments and predictable regulation to sustain public utilities. The Vaca Muerta Sur pipeline provides a financing precedent, combining sponsor equity with a bank consortium loan involving JP Morgan, Citi and Santander. The guests discuss how capital markets, sponsor support and multilateral guarantees could fund larger developments, drawing lessons from RenovAr and Genneia. They also examine why regulated utilities require stronger protections against tariff intervention, and why local participation in Transener need not signal foreign investor retreat: domestic investors can demonstrate confidence before international capital follows. Thanks for listening and watching. If you have any feedback on this episode send us a note at podcast@9fin.com. Look out for the second episode, which delves deeper into RIGI, among other things, in the near future!

  2. 3d ago

    William Cohan reveals how Apollo and Leon Black ushered in the private credit boom amid fortune and scandal

    Listen in on a riveting conversation with veteran financial journalist and bestselling author William D. Cohan to discuss his new book, Money to Burn: The Unvarnished Truth About Leon Black, Apollo, and the Rise of a New Wall Street. 9fin’s Max Frumes tries to understand just how Cohan gets some of the most influential figures in the history of finance and business to open up to him across his eight books. In this latest book, Cohan takes us inside the world of Leon Black and the creation of Apollo Global Management, which today is one of most dominant and pioneering multi-strategy asset managers. Cohan has captured Black’s relationships with the other billionaires who ushered Apollo into its era of prominence, Marc Rowan and Josh Harris, as well as the early influence of figures including Michael Milken, and the personal tragedies that shaped some of Wall Street’s most powerful financiers. The conversation also touches on Cohan’s reporting on Black’s relationship with Jeffrey Epstein — including the $158m Black paid Epstein for financial advice — and how one of the world’s toughest dealmakers came to enter such an unusual financial arrangement.

  3. Aug 31

    LME Doomscrolling — Just because you can, doesn’t mean you should

    In this episode of LME Doomscrolling, 9fin’s senior LME lawyer Laurie Tomassian welcomes Bill Derrough, Managing Director and Chairman of the Capital Structure Solutions group at Jefferies. Bill has over three decades of restructuring experience, with a roster of over 600 restructurings completed. What sets his deals apart is a track record of high creditor participation. Over his career, his deals have garnered on average 94% of creditors’ support. He brings a new lens to the LME debate, offering a way to use sticks and carrots to get a consensual outcome, not to fuel continued creditor-on-creditor violence. In this episode he walks us through how he avoids the LME pitfalls of what he calls “bad investment banking” that lead to short-term liquidity solutions while creating diminished long-term recoveries. Bill and Laurie speak about how the prevalence of repeat restructurings has impacted creditor behavior and walk through some success stories that have created what Bill likes to call “durable” solutions. Have any feedback for us? Send us a note at podcast@9fin.com. Thanks for listening!

  4. Aug 26

    Syndication Nation — Will rescheduling light up the cannabis debt markets?

    Hemp, hemp, hooray! The cannabis industry rejoiced earlier this year when the Department of Justice officially reclassified state-licensed medical marijuana from Schedule I to Schedule III — placing it in the same category as testosterone, rather than heroin. But the real game-changer for the industry would be expanding Schedule III status to adult-use recreational cannabis, which the DOJ reviewed during formal administrative hearings in July. A broader reclassification would potentially pave the way for more tax relief, as well as additional collateral and financing options for stressed cannabis borrowers. LevFin editor Bill Weisbrod grinds down the situation with deputy LevFin editor Sasha Padbidri in this episode of Cloud 9fin’s Syndication Nation. Have any feedback for us? Send us a note at podcast@9fin.com. Thanks for listening!

  5. Aug 20

    Distressed Diaries — Are football clubs paying too much for their boots?

    The World Cup summer is now a fading memory, but with the Premier League back, Cloud 9fin’s Distressed Diaries keeps football in focus while shining a light on the sector’s financial difficulties. Football clubs were traditionally bankrolled by wealthy men. Successful businessmen channelled their buccaneering instincts into their favourite sport, splurging wealth they made elsewhere. The latest in this long line, Jeff Bezos, Amazon’s founder, is set to buy a stake in Liverpool as part of a consortium led by British-Indian millionaire businessman Amit Bhatia. But rising costs, including eye-watering player salaries and transfer fees, has meant that one man’s opulence, however fabulous, is not enough to save a struggling business. Not least in an industry as money-guzzling as professional football. As a result, clubs resorted to borrowed money and a great many have struggled to pay that money back. In this episode of Distressed Diaries, host and senior reporter Bianca Boorer and distressed debt reporter Aditya Anand Kumar speak with Owen Ormond, restructuring partner at Ward Hadaway about the rise of distress in football clubs in Europe, the extent to which regulation can control club owners’ profligacy and the role of alternative types of credit.

  6. Aug 10 ·  Video

    Jane’s LME Addiction — BofA drops in on a double Black Diamond navigating uncharted DQ litigation slopes

    A New York state judge is preparing to hear a trial between Black Diamond Capital Management and Bank of America, the result of which could provide a better understanding of how lender DQ lists are enforced. In this episode of Cloud 9fin, Jane Komsky unpacks the case and the potential impacts on the broader market with Polsinelli restructuring chair David Karp and 9fin reporter Tom Quinn. The discussion examines the three questions now facing the court: whether Bank of America should have settled a trade with an affiliate to a disqualified lender, whether it satisfied a requirement to provide an economic equivalent when the trade failed, and whether it acted as soon as practicable to find a solution. Karp argues that any ruling is likely to focus on Bank of America’s post-trade conduct rather than overturn the core loan-market principle that a trade is a trade. The case also highlights the value of lender-of-record status, opaque DQ lists, voting rights and the risk to desks that leave trades unsettled. You can read our original story on the litigation here. Have any feedback for us? Send us a note at podcast@9fin.com. Thanks for listening!

  7. Jul 21 ·  Video

    Eat, sleep, drive — Breaking down the Del Monte, Serta & American Tire trifecta

    Judge Lopez’s Serta ruling lands after Del Monte and American Tire, putting pro rata sharing, sacred rights and LME damages back in the spotlight. Ropes & Gray’s Rachel Strickland and Eliza Hollander join 9fin Head of LMEs Jane Komsky to parse what these three cases mean for the future of in-court and out-of-court restructurings. The trio compares Judge Lopez, Judge Kaplan and Judge Goldblatt’s approaches to similar pro rata sharing language in very different settings: Serta outside bankruptcy, and Del Monte and American Tire inside Chapter 11, both with DIP fights. Strickland and Hollander examine whether roll-ups, cashless exchanges and DIP subordination should be treated as payments or reductions under legacy credit agreements, and why Fifth Circuit open-market purchase analysis continues to shape the debate. They also dig into ratable-offer mechanics, Serta-style uptiers, excluded lender remedies, par participation damages and the tension between textual contract interpretation and bankruptcy court equity. They also explore whether LME fatigue, litigation costs and the 2027-2028 maturity wall will push market participants towards ratable structures or efficient Chapter 11s. Have any feedback for us? Send us a note at podcast@9fin.com. Thanks for listening!

  8. Jul 15

    JP Morgan’s $1.5tn SRI targets Europe’s security supply chain

    Daniel Rudnicki Schlumberger, a 30-year JP Morgan veteran, sits down with senior leveraged finance reporter Nicolle Liu to unpack how the bank is exporting its Security and Resiliency Initiative (SRI) from the US to EMEA — mobilizing private capital for the sectors governments now treat as strategic. Schlumberger also discusses: The $1.5trn, 10-year target and the full capital stack behind it: balance-sheet lending, syndicated loans, high yield, equity private placements, IPOs, venture and direct lending, second lien, PIK and hybrid capital;Where the money is going: aerospace and defense, nuclear, wind, solar, grid resiliency, AI, quantum, cyber, rare minerals, shipbuilding, robotics and critical medicines;Deals in focus: Oxford Quantum Circuits' equity private placement, Czechoslovak Group's HY bond and defense IPO, and CoreWeave's debut euro bond;Plus: private equity's push into defense consolidation, the sovereign data center question, government engagement, and how JP Morgan is staffing up its SRI team.Have any feedback for us? Send us a note at podcast@9fin.com. Thanks for listening!

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Ratings & Reviews

5
out of 5
14 Ratings

About

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.

Information

  • Creator
    9fin
  • Years Active
    2021 - 2026
  • Episodes
    278
  • Rating
    Clean
  • Copyright
    © 9FIN LIMITED
  • Show Website
    Cloud 9fin

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