European IG Wrap — Muted activity after US-Iran deal as Warsh debuts as Fed Chair

Lipton Teas lenders join co-op

Lenders to Dutch tea maker Lipton Teas and Infusions have signed a co-op agreement to organise ahead of potential talks with the sponsor CVC, according to 9fin sources. Over 50% of the first lien lenders have joined the co-op and a steering committee made up of a mix of CLOs and secondary funds has formed, the sources said.

Restructure abroad, enforce at home — The rise of US Chapter 15

In the past few years the use of Chapter 15 recognition procedures in the US has started to look less like a traditional cross-border comity tool and more like an enforcement step for US companies to conduct their restructuring elsewhere and bring the final restructured package safely back home.

LatAm Weekly — The plot thickens in Braskem’s restructuring

Asia weekly — Shapoorji seeks maturity extension

Excess Spread — Tampa template, choose your own adventure

The week after Barcelona should be a week for strong execution. Meetings at the conference give a better-than-usual line of sight to where bonds will land, and when coupled with the New Treaty of Versailles, it’s a good time to sell deals.

Legally Bond — Law firms are PE’s new acquisition playground

Fortress Investment Group’s acquisition of a minority stake in Arizona-based personal injury law firm Rafi Law Group in May was further proof that few professions are beyond private equity’s reach. From dental clinics to accounting firms, PE has swept the professional services landscape and law firms appear to be its latest target.