Join us for an exclusive private discussion on the year ahead for European high yield and the outlook for European liability management.

Enjoy private access to expert insights from senior high yield lawyer Alastair Gillespie of Covenant Review who concentrates on European high yield and liability management transactions.

Topics for discussion to include:

• Growing numbers of European LMTs are expected in 2026 after a very active 2025, with certain court-led restructurings taking the back seat – we’ll discuss if this is a necessary development or just fueling the pipeline of repeat defaulters.
• Recent high profile European LMTs like Selecta, Hunkemöller and Altice have set aggressive precedents – what do they mean for the market?
• Co-op agreements have had a hugely prominent role in high profile European LMTs:  what does that mean for creditors – and what is the significance of recent co-op related anti-trust litigation?
• A review of the primary market outlook for European high yield, and recent top-tier sponsor terms seen in the market. We’ll discuss how covenants shape LMT negotiations and some key vulnerabilities to watch for.