European Liability Management 2025 Year in Review: European LMTs Have Landed
Aggressive liability management tactics have officially arrived in Europe. This year-in-review explores how 2025 became a watershed moment for creditor-on-creditor violence, with marquee deals like Selecta, Victoria, and Altice showcasing priming maneuvers that left minority holders blindsided. From antitrust challenges to distressed disposals, discover the bold restructuring tactics reshaping European debt markets and why 2026 promises even more fireworks.
Cooperation Agreements & Antitrust: Webinar Recap
On January 13, 2026, CreditSights hosted a special webinar and podcast entitled “Cooperation Agreements and Antitrust: The Next Major Battle.” The panel explored how creditor cooperation agreements function in out-of-court restructurings and their emergence as a response to liability management transactions
(uptiers, drop-downs, double-dips, etc.). The panel then did a deep dive into two headline antitrust lawsuits—Optimum Communications (f/k/a Altice USA) and Selecta.
2026 Euro Special Sits: Some Are More Equal
European restructuring enters a new era where creditors dominate, governments push back, and emergency equity injections have vanished, according to the latest market analysis.
Levered Lines Podcast: Restructuring Plans – Reasons to be Cheerful as we head into 2026
Listen to LFI’s deep dive into the Thames case and into how RPs may develop next year in its latest Levered Lines podcast, with guests Tim Newey from Slaughter and May, Professor Sarah Paterson, and South Square’s Ryan Perkins.
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Explore a curated selection of in‑depth analyses from Covenant Review, CreditSights and LevFin Insights, covering major trends in European LMT structures, creditor dynamics and litigation developments.
Electronic Arts: Initial Thoughts on the Tender Offer and Consent Solicitation
Electronic Arts: Initial Thoughts on the Tender Offer and Consent Solicitation
Market Alert: New Language on Integrated Transactions Could Give Borrowers Significant Flexibility in Litigation Challenging LMTs
Market Alert: New Language on Integrated Transactions Could Give Borrowers Significant Flexibility in Litigation Challenging LMTs
U.S. Liability Management Transactions: Quarterly Update Through Q4 2025 and Primer
U.S. Liability Management Transactions: Quarterly Update Through Q4 2025 and Primer
European Leveraged Loans 2025 Year in Review: Market Technicals and Limited New Money Overshadow Covenant Concerns; Investors Focused on LME-related Terms
European Leveraged Loans 2025 Year in Review: Market Technicals and Limited New Money Overshadow Covenant Concerns; Investors Focused on LME-related Terms
European Liability Management 2025 Year in Review: European LMTs Have Landed
European Liability Management 2025 Year in Review: European LMTs Have Landed
European High Yield 2025 Year in Review: High Volume, High Flexibility as Refinancings Fuel Covenant Creep and New Money Deals Push Boundaries
European High Yield 2025 Year in Review: High Volume, High Flexibility as Refinancings Fuel Covenant Creep and New Money Deals Push Boundaries
Altice International: Enormous Investments Capacity Comes Back to Bite
Altice International: Enormous Investments Capacity Comes Back to Bite
Optimum Communications: Welcome to the Scorched Earth Era of Anti-Cooperation
Optimum Communications: Welcome to the Scorched Earth Era of Anti-Cooperation
Selecta: Uptiering Lawsuit Raises Antitrust Arguments Against Cooperation Agreement and Aggressive LMT
Selecta: Uptiering Lawsuit Raises Antitrust Arguments Against Cooperation Agreement and Aggressive LMT
Market Alert: It’s Baaaaack – Anti-Cooperation Returns to BSL Syndication
Market Alert: It’s Baaaaack – Anti-Cooperation Returns to BSL Syndication
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