Basel Endgame re-proposal sows optimism for US SRT

Winding Up — Co-ops. A double-edged sword?

SRT spreads after Iran – will they, won’t they?

Since the start of the Middle Eastern conflict on 26 February, the significant risk transfer market has been waiting to see if, when and how much it would affect spreads. Certainly, no one could accuse investors in this market of a knee-jerk reaction.

Excess Spread — Where’s the money?

9fin | At this point in the MFS saga, it’s pretty clear that a lot of money has gone missing! The latest court documents suggest £1.3bn, of £2.6bn in debt facilities — half the money, or everything double-pledged.

Electronic Arts coverage summary: tracking the largest LBO in history

9fin | 9fin is an AI-powered debt market intelligence platform that enables finance professionals to analyze a credit, or win a mandate, in one place. EA’s story intersects various markets including distressed, leveraged finance and investment grade. Clients can stay informed in a fraction of the time, thanks to 9fin’s growing team of reporters and analysts, tracking the journey from the very beginning.

9Questions — Jacob Walton & Ludovic Walter, Sona — Navigating dispersion

9fin recently sat down with Jacob Walton and Ludovic Walter, co-heads of CLOs at Sona Asset Management. Walton and Walter explained their deliberate underweight to software — driven by concerns over AI disruption, inflated 2021-vintage capital structures, and poor relative value.

Banks prep TLB for DSM Firmenich’s carve-out

9fin | Banks are set to market a €775m term loan B to back the higher-margin “Solution Company” within CVC’s DSM-Firmenich’s Animal Nutrition and Health (ANH) carve-out, according to 9fin sources.