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This week on The Primary View, Seth Brumby, Deputy Managing Editor at Reorg sits down with Michelle Handy, a senior managing director and chief investment officer at First Eagle, to discuss direct lending in the middle market, the evolution of deal terms in light of expanding private credit, and her expectations for increased deal volume and a rate cut in the back half of the year.

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#leveragedfinance #highyield #restructuring #performingcredit #distresseddebt #debtrestructuring #leveragedloans #middlemarket

This week, Seth Brumby, deputy managing editor at Reorg, speaks with David Dowden, a managing director at MacKay Shields, about the outperformance of high yield municipal bonds in the first quarter, the redemption of Building America Bonds and the overall evolution of taxable bonds for municipal investors.

Each episode of Reorg's weekly EMEA Core Credit podcast series features detailed discussions on issues and companies across the credit lifecycle. This week’s podcast includes discussions on:

The latest developments regarding Swedish debt collector Intrum’s restructuring;
OQ Chemicals’ own refinancing risks, after its parent company withdrew planned equity support; and
The primary market, with a roundup of action that’s taken place since last week.


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We're looking for feedback to improve the podcast experience! Please share your thoughts here: www.research.net/r/Reorg_podcast_survey

For more information on our latest events and webinars: reorg.com/resources/events-and-webinars/

Sign up to our weekly newsletter Reorg on the Record: reorg.com/resources/reorg-on-the-record/

#leveragedfinance #highyield #restructuring #performingcredit #distresseddebt #debtrestructuring #leveragedloans

This week, Tom Shandell, head of US broadly syndicated loans and CLOs at Investcorp Credit Management, joins Reorg’s Hugh Minch to discuss triple-C concentrations in CLO portfolios following the Altice France downgrade. Shandell discusses which CLOs risk failing an overcollateralization test this quarter and shares his views on which other credits are concerning amid a rise in lender on lender violence in workout situations.

This week, Reorg’s Dia Gill Joins Cynthia Romano, senior managing director at FTI, for a broad ranging discussion that includes the economy’s resilience in the face of dire predictions, unique restructuring challenges facing the health care, commercial real estate and cannabis industries, recent trends in liability management and how FTI is working to diversify its portfolio of service offerings.

Due to the Easter Holiday, we’re taking a short hiatus from our weekly summary of new developments in the restructuring world and our week ahead preview. Our full featured podcast will be back next week.

We're looking for feedback to improve the podcast experience! Please share your thoughts here: www.research.net/r/Reorg_podcast_survey

For more information on our latest events and webinars: reorg.com/resources/events-and-webinars/

Sign up to our weekly newsletter Reorg on the Record: reorg.com/resources/reorg-on-the-record/

#leveragedfinance #highyield #restructuring #performingcredit #distresseddebt #debtrestructuring #leveragedloans

Listen now: https://go.reorg-research.com/reorg-special-podcast-altice-france

Altice France’s attempt to fix its capital structure through potential discounted buybacks is threatening to spiral out of control. The slide in the group’s unsecured bonds on the back of management’s likely intentionally bearish investor call galvanized investors into organizing, with two groups forming, raising the potential for creditor-on-creditor violence.

In the podcast, we discussed the market reaction after last week's earnings call and Reorg’s view on management’s guidance and Altice France’s valuation. We also explain how asset drop-downs are permitted under the terms of the bonds and the implications for creditors. Finally, we delve into the French restructuring regime and French director duties.