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US Special Situations: Del Monte launches exchange, new money TL; premium treatment allotted to ad hoc group
Del Monte launched its long-awaited financing deal to its broader group of lenders over the weekend,…
Sara LawalArticle published date: August 5, 2024
US Weekly: Bull Steepened into a Bearish Market
Executive Summary Treasury Markets: Treasury yields declined materially across the bull steepened curve following dovish…
Sara LawalArticle published date: August 5, 2024
US Bankruptcy: Express chapter 11 plan proposes to pay unsecured creditors 10%-15%, secured claims in full
Related documents: Chapter 11 Plan Disclosure Statement Express has filed its chapter 11 plan and accompanying…
Sara LawalArticle published date: August 1, 2024
US Secondary: WW bonds collapse as Q2 earnings disappoint, outlook for FY 2024 softens
WW International (aka Weight Watchers) debt fell yesterday leading into today’s Q2 2024 earnings report and…
Sara LawalArticle published date: August 1, 2024
US Bankruptcy: Red Lobster judge approves disclosure statement; rules on third-party opt-out provision
Related documents: Disclosure Statement UST Objection Red Lobster gained conditional approval from the Middle District…
Siobhan HodsonArticle published date: July 26, 2024
US Special Situations: Belk completes deleveraging transaction – Press Release
Press release: CHARLOTTE, N.C.--(BUSINESS WIRE)--Belk, Inc. (“Belk” or the “Company”), a privately-owned department store with nearly…
Siobhan HodsonArticle published date: July 23, 2024
Monsanto/Bayer: Aspirin Is No Cure for Purdue
Executive Summary We have previously discussed that Monsanto has considered using the Texas Two-Step liability…
Sara LawalArticle published date: July 18, 2024
US Bankruptcy: Chicken Soup for the Soul Converts to Chapter 7 Amid Insufficient Funds
Chicken Soup for the Soul (CSSE) converted its chapter 11 case to a chapter 7 liquidation…
Siobhan HodsonArticle published date: July 11, 2024
Department Stores: More for Macy’s, NMG Sells Out
Fireworks, hot dogs, flags, private department store deals? The news/chatter calendar was surprisingly active on…
Siobhan HodsonArticle published date: July 5, 2024
US Bankruptcy: Chicken Soup for the Soul first-day bankruptcy hearing delayed amid payroll delinquency and creditor disputes
Chicken Soup for the Soul Entertainment Inc. (CSSE), the parent company of Redbox, was directed by…
Siobhan HodsonArticle published date: July 1, 2024
SCOTUS Opens Floodgates to Regulatory Litigation?
Executive Summary On June 28, 2024, the U.S. Supreme Court overruled its 1984 landmark decision…
Siobhan HodsonArticle published date: July 1, 2024
U.S. Supreme Court Rejects Third-Party Releases
Executive Summary On June 27, 2024, the Supreme Court held, in an appeal arising out…
Sara LawalArticle published date: June 28, 2024
US IG & Leveraged Finance 2H24/1H25 Outlook
Executive Summary With our 2H24/1H25 outlook, we are maintaining our Market Weight allocation to US…
Sara LawalArticle published date: June 17, 2024
Hertz: Warrant Litigation Explained
Executive Summary On June 14, 2024, holders of certain warrants issued by Hertz commenced litigation…
Sara LawalArticle published date: June 17, 2024
EMEA Special Situations: Adler AGPS bondholders approve recap amendments, ‘far surpassing’ 75% support threshold for each series
Adler's second-lien bondholders have voted for the restructuring amendments, meaning it should be able to…
Sara LawalArticle published date: June 18, 2024
Interval funds emerge alongside non-traded BDCs as compelling option for retail investors
Having won over institutional investors such as pension funds and endowments, private credit managers have…
Siobhan HodsonArticle published date: June 17, 2024
PREPA: 1st Circuit Holds Revenue Bonds Are Secured
Executive Summary On June 12, 2024, the U.S. Court of Appeals for the First Circuit…
Siobhan HodsonArticle published date: June 13, 2024
SVB Financial Reveals IRS Tax Liability of $650mn, Signaling More Delays
SVB Financial filed a notice of developments detailing an amended proof of claim by the IRS.…
Siobhan HodsonArticle published date: June 11, 2024
PluralSight Raises Preferred Equity, Conducts Drop-Down Liability Management Transaction
PluralSight raised new preferred equity financing and conducted a drop-down transaction that involved sponsor Vista Equity…
Siobhan HodsonArticle published date: June 12, 2024
US Special Situations: Sinclair debt jumps after Chatham Asset Management sends letter calling for traditional refinancing efforts
Debt backing Sinclair is up in secondary trading today after Chatham Asset Management sent a public letter to CEO…
Sara LawalArticle published date: June 3, 2024
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