European LevFin Wrap — Primary caps off September sizzler

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News & Analysis

ABF

LevFin

Brookfield, Tor join PaleBlueDot’s $255m GPU-backed private note

PaleBlueDot AI has closed a $255m GPU-backed three-year private note, 9fin sources said. Brookfield and Tor Investment Management were among the investors, according to the sources. JP Morgan acted as lead manager for the facility.

20 Jul 2026

| APAC

News & Analysis

Distressed

LevFin

High stakes — Rescheduling to test cannabis borrowers

In the world of leveraged finance, operating without the ability to deduct SG&A expenses from taxes is a total nonstarter. But for US cannabis companies — particularly those on the adult-use recreational side — such a move currently remains out of reach.

17 Jul 2026

| US

News & Analysis

Distressed

NFE Chapter 15 opinion flags ‘bankruptcy tourism’ risk, sets guardrail for UK plan recognition

A new trend has emerged where certain US companies are creating UK affiliates and then leveraging the flexibility of UK restructuring laws and the efficiency of English courts and turning to US bankruptcy courts purely for recognition.

17 Jul 2026

| Global

News & Analysis

Private Credit

Taking the Credit — Private credit flirts with preferred equity as exits stutter

Once reserved for distress, preferred equity has become an “acceptable liquidity solution” for a market struggling with exits, Paul Hastings’ global finance partner Jennifer Passagne told 9fin. And it seems that dealmakers agree. They’ve seen the number of deals featuring pref equity at least double over the past 12 months, according to 9fin sources.

17 Jul 2026

| Europe

News & Analysis

Distressed

LevFin

Reno secures 85% backing for creditor-led restructuring as Apollo hands over the keys

Creditors are set to take control of Italian recycled cartonboard producer Reno de Medici from sponsor Apollo, after holders of more than 85% of the group’s notes backed a recapitalisation that will equitise up to €300m of debt and inject €100m of new money.

17 Jul 2026

| Europe

League Tables

Private Credit

European private credit league tables Q2 26

The European private credit deal rankings for Q2 26 are in, with Ares still leading the overall deal count for the last 12 months. However, Muzinich has risen to take the quarterly top spot, the first time that the New York-based firm has been pipped to that crown.

17 Jul 2026

| Europe