CLO legal league tables Q1 26 — Regulation, resets and (cashless) rolls

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News & Analysis

Distressed

LevFin

Towards the breaking point, when EBITDA lies and liquidity bites

As macroeconomic headwinds and tighter liquidity conditions expose weaker capital structures, the gap between reported credit metrics and underlying liquidity is becoming a defining feature of the European distressed debt and high-yield restructuring landscape.

22 Apr 2026

| Europe

| US

News & Analysis

Distressed

Arxada SUN holders sign co-op ahead of company proposal

9fin | A group of bondholders in Swiss specialty chemicals producer Arxada’s senior unsecured bonds has formed a cooperation agreement ahead of an expected restructuring proposal from the company, according to 9fin sources.

22 Apr 2026

| Europe

| US

League Tables

Private Credit

Private credit league tables Q1 26 — US and Europe

9fin's private credit deal rankings for Q1 26 are now live. In the US, Churchill took the top spot with 53 deals in Q1, followed by MidCap Financial and Audax. In Europe Ares once again led overall at 26 deals, with Apollo and CVI coming in second and third respectively.

21 Apr 2026

| US

| Europe

News & Analysis

Distressed

Altice International has eight months left to strike a deal

9fin | Unsurprisingly it seems that today’s (21 April) Altice International Q4 25 results release will not be accompanied by an earnings call. Instead, many questions remain unanswered as we await owner Patrick Drahi’s next move.

21 Apr 2026

| Europe

| US

Educationals

Distressed

A crash course on LMEs

Liability management exercises (LMEs) are every bit as complex as they are prevalent in the US distressed markets. This online course by 9fin will ensure you’re well-equipped with the knowledge you need in just five lessons.

21 Apr 2026

| Global

News & Analysis

LevFin

QXO to acquire TopBuild in $17bn deal, Wells Fargo to lead syndication

9fin | Wells Fargo has been mandated to lead the loan syndication for QXO’s $17bn take-private of insulation distributor TopBuild, according to 9fin sources.

20 Apr 2026

| US