Restless Investors Covenant Pushback in European HY 2021

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.

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

Last week, Arxada’s investor update on its proposed recapitalisation transaction included an anti-LME protection referring to Pfleiderer, for what appears to be the first time in reference to a European deal.

First Brands objecting creditors attack ‘death trap’ plan as due process concerns mount

SPV lenders and factoring counterparties, along with the US Trustee in First Brands’ Chapter 11 cases, have escalated attacks on the debtors’ proposed liquidating plan this week.

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.