Brightspeed lenders face structural priming as ABS looms

Petra-linked factoring firms enter administration with no recovery seen on £45m+

Regency Factors and Regency Trade Finance have been placed into administration, shining a light on the complex collapse of trade receivables platform Petra Management, which funded itself through large asset-backed bond issues placed to institutional clients such as Insight Investment, Nuveen, and Pimco, but started to fall apart in 2024.

Insolvent Bathla’s A$3.4bn debt highlights Aussie property woes

On Friday (4 September), the administrators of Bathla Group, one of Sydney’s largest, and now insolvent, homebuilders told the firm’s creditors its A$3.4bn ($2.45bn) debt stack may still grow. The builder owes most of that cash to private credit lenders, though claimants may number as many as 3,000.

MFS investors including Raja’s stepson were repaid ahead of collapse

Individual investors who had lent money to Market Financial Solutions — including MFS CEO Paresh Raja’s stepson, the Deutsche Bank high-yield credit trader Rihan Dewan — received their money back last December in the run-up to the bridging lender’s high-profile collapse amid fraud allegations, according to court documents.

No more movie magic — film studio CMBS flirts with maturity default

The pandemic changed the game for CRE valuations. But the asset class which illustrates this best isn’t offices, but film and television studios.

Caesars Palace Deux? — Icahn putting together topping bid with financing that would prime existing creditors

Carl Icahn isn’t folding on his bet to win Caesars Entertainment and trying to beat Fertitta Entertainment’s $5.7bn acquisition of Caesars, sources told 9fin. Icahn would pay between $35 and $40 per share for the casino operator — topping Fertitta’s offer of $31 per share — and take Caesars private, sources said.

AI warning signs, Part Two — It’s IPO o’clock, do you know where your credit returns are?