Cloud 9fin — El Niño is Spanish for … The Niño

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Guides

Distressed

LevFin

How credit investors use 9fin AI to analyze stressed situations faster

When a stressed credit situation develops, investors need answers fast. What's happening? What does the documentation permit? What’s the capital structure? And how does the opportunity compare with peers? This walkthrough shows how a credit analyst can use 9fin AI to answer those questions and build a relative value view in minutes. We'll use Arxada's amend-and-extend process as an illustrative example.

1 Jul 2026

| US

| Europe

News & Analysis

Investment Grade

LevFin

Nothing short of X-traordinary — How one of Wall Street’s hung LBO financings became a winning trade

It’s the ultimate Wall Street fantasy: hung LBO debt financing graduating into investment grade territory, while the company itself is poised to enter the Nasdaq-100. But in the Elon Musk ecosystem, the improbable is par for the course. Just last week, SpaceX priced a $25bn IG bond offering, hot on the heels of its blockbuster IPO earlier this month.

30 Jun 2026

| Europe

| US

News & Analysis

Distressed

LevFin

Restructuring veteran Charles Noel-Johnson dies at 50

Prominent restructuring banker Charles Noel-Johnson passed away earlier this month at 50. A well-known market veteran, Noel-Johnson was Lazard’s managing director and co-head of Europe restructuring and liability management, based in London.

29 Jun 2026

| US

| Europe

9Questions

Private Credit

9Questions — James Charalambides, Adams Street Partners — Setting sights on Europe

9Questions is our Q&A series featuring key decision-makers in the corporate credit markets — get in touch if you know who we should be talking to! In recent years, Europe has become more than just a popular holiday destination for Americans wanting a ‘Eurosummer’ — it has also become the new hunting ground for direct lenders seeking better pricing and less competition.

29 Jun 2026

| Europe

News & Analysis

Distressed

LevFin

Escaped kids, hidden abuse — What happens when private equity enrolls in daycare?

In April 2025, Jake Stokes was picking up his five-year-old son from his KinderCare Education daycare center in Fort Wright, Kentucky, when a teacher pulled him aside. His son had been involved in a minor altercation with another child, but the staff assured him the boy was OK.

29 Jun 2026

| US

News & Analysis

Distressed

LevFin

Private Credit

'Operation Royal Crown' — How a DQ list left Bank of America holding an unsettled trade

Two of distressed debt’s largest institutions are appearing at a hearing in a New York state court on Monday, 29 June to determine the scope of a trial that could transform the way DQ lists are enforced. It started like any other trade. Andrew Van Orden, a distressed trader at Bank of America, joined a Bloomberg chat in September 2021 with a single word: “yo.” Ethan Auerbach, a portfolio manager at the alternative asset manager Black Diamond Capital Management, replied within a few seconds: “Lmk how operation royal crown goes.”

29 Jun 2026

| US