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.
Market Alert: LMT Risk in the Building Products Sector
Market Alert: LMT Risk in the Building Products Sector
CR TrendLines – Loan Covenant Trends April 2026
CR TrendLines – Loan Covenant Trends April 2026
U.S. Liability Management Transactions: Quarterly Update Through Q1 2026 and Primer
U.S. Liability Management Transactions: Quarterly Update Through Q1 2026 and Primer
Merlin Entertainments: Liability Management Playbook for the Senior Notes
Merlin Entertainments: Liability Management Playbook for the Senior Notes
Selecta: Notable Arguments in the Motions to Dismiss
Selecta: Notable Arguments in the Motions to Dismiss
Out of Control? Event-Driven Default Relief Under European Leveraged Loans
Out of Control? Event-Driven Default Relief Under European Leveraged Loans
Market Alert: CD&R is Codifying the PetSmart / Chewy Maneuver in the New Sealed Air Bonds
Market Alert: CD&R is Codifying the PetSmart / Chewy Maneuver in the New Sealed Air Bonds
European Loans March Wrap-Up: With Market Volatility and Low Volumes, Tolerance for Flexibility Remains for a Favoured Few with Overall Tightening
European Loans March Wrap-Up: With Market Volatility and Low Volumes, Tolerance for Flexibility Remains for a Favoured Few with Overall Tightening
CR European TrendLines: Monthly Documentation Score Sheet: March 2026
CR European TrendLines: Monthly Documentation Score Sheet: March 2026
European High Yield March 2026 Wrap-Up: Special Situations Make Waves as Primary Issuance Well Runs Dry
European High Yield March 2026 Wrap-Up: Special Situations Make Waves as Primary Issuance Well Runs Dry
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