Sustainable Junk - November 2021 Wrap

Excess Spread — Nothing to hide, funding redemptions

9fin | Fund redemptions are coming for asset-based finance! While we’ve been head down covering the fallout of Market Financial Solutions, the biggest non-war story in broader markets has been the wobble in private credit.

TV Azteca took $290m loan from Caribbean bank days before bankruptcy filing

9fin | Mexican broadcaster TV Azteca signed a MXN 5bn ($290m) loan with financial institution Alterbank to partially pay the MXN 10.4bn ($600m) it owed to Mexico’s tax authority SAT, just days before it filed for bankruptcy protection (concurso mercantil), 9fin sources said.

Bringing the private credit playbook to the syndicated market — The SMBC case

9fin | Often, when volatility spikes (as markets are being reminded now with the ongoing Iran conflict), banks pull back and private credit steps in.

Consolidated Energy, Ineos debt climbs on rising oil and commodity prices

Disruptions to commodity supplies as a result of the conflict in the Middle East might be a rare silver lining for Consolidated Energy.

IG Webinar recap — Transatlantic, and beyond

9Questions — Fokke Lucas, 17Capital — Achieving maximum value with NAV