CreditSights News & Blog

US Insight: M&A/LBO loan volume set to accelerate this autumn as forward calendar hits $39bn LevFin Insights

US Insight: M&A/LBO loan volume set to accelerate this autumn as forward calendar hits $39bn

With M&A/LBO activity accelerating over the past couple of months, the leveraged loan forward calendar…

Siobhan HodsonArticle published date: August 16, 2024

EMEA Insights: ‘Freebie baskets’ gain foothold in private credit contracts as sponsors seek further debt flexibility LevFin InsightsPrivate Credit

EMEA Insights: ‘Freebie baskets’ gain foothold in private credit contracts as sponsors seek further debt flexibility

Europe’s private equity sponsors want private credit lenders to give them greater flexibility to increase…

Siobhan HodsonArticle published date: August 23, 2024

Bayer/Monsanto: Big Win; Potential Circuit Split LevFin InsightsSpecial Situations

Bayer/Monsanto: Big Win; Potential Circuit Split

Executive Summary On August 15, 2024, the U.S. Court of Appeals for the Third Circuit…

Mary-Jo MachelArticle published date: August 16, 2024

EMEA Press: Altice proposes to buy back debt at 60% to 70% of its value LevFin InsightsSpecial Situations

EMEA Press: Altice proposes to buy back debt at 60% to 70% of its value

Faced with 200 Altice creditors that have joined forces to bring pressure to the debt…

Mary-Jo MachelArticle published date: August 16, 2024

SVB Financial Reveals IRS Tax Liability of $650mn, Signaling More Delays LevFin InsightsSpecial Situations

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

US Special Situations: Del Monte launches exchange, new money TL; premium treatment allotted to ad hoc group LevFin InsightsSpecial Situations

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 Special SituationsStrategy

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 LevFin InsightsSpecial Situations

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 LevFin InsightsSpecial Situations

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 LevFin InsightsSpecial Situations

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 LevFin InsightsSpecial Situations

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 CreditSightsSpecial Situations

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 first-day bankruptcy hearing delayed amid payroll delinquency and creditor disputes LevFin InsightsSpecial Situations

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

Department Stores: More for Macy’s, NMG Sells Out CreditSightsSpecial Situations

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 Converts to Chapter 7 Amid Insufficient Funds LevFin InsightsSpecial Situations

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

SCOTUS Opens Floodgates to Regulatory Litigation? CreditSightsSpecial Situations

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 CreditSightsSpecial Situations

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 CreditSightsSpecial Situations

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 CreditSightsSpecial Situations

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 LevFin InsightsSpecial Situations

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