Pfleiderer protections — The meaning of the new LME blocker in Arxada deal

9Questions — S Alexandra de Padua and Sean Darling, Proskauer — Infrastructure debt at the crossroads

Today’s infrastructure financings rarely fit neatly into traditional legal or capital markets categories: What was once viewed as a relatively straightforward real estate or project finance story has expanded into the broader capital markets ecosystem.

FCA eyes quarterly disclosure regime for UK private credit firms

The UK's Financial Conduct Authority is considering introducing a quarterly reporting regime for private credit firms that would require mandatory disclosure across a range of portfolio and fund-level metrics, according to 9fin sources.

US regional banks eye SRT for M&A

Allica Bank scores capital relief via novel structure with British Business Bank and Sona

UK challenger Allica Bank has signed a guarantee with the British Business Bank which includes, for the first time, a private-sector junior investor, and frees up additional regulatory capital compared to other guarantees under the government-owned bank’s ENABLE programme.

Lenders praise SoftBank’s $40bn bridge design, some raise concerns over AI life-cycle

Lenders evaluating the SoftBank Group’s $40bn one-year bridge loan describe the deal as well-structured and say it addresses most risks they could think of, while some expressed concerns over the unpredictable life-cycle of AI products.

9Questions — Aly Hirji, Elmwood — completing a CLO trilogy

Elmwood, the US CLO manager backed by Elliott, is making its push into European credit at a moment when the asset class is drawing fresh attention from a broadening pool of global investors. 9fin sits down with Aly Hirji, head of European credit and portfolio manager at Elmwood to discuss why he has chosen the firm as the platform for his third European CLO build, and how the firm is navigating a market reshaped by geopolitics, AI-driven sector dispersion and shifting global capital flows.