9fin launches next generation of AI tools for debt...
9fin launches next generation of AI tools for debt capital markets
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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.
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.
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.
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.
Fair dinkum, this really is a hell of a deal! Cashmere Funding 2026-1 is backed by A$17.8bn ($12.45bn) of Australian mortgages, and funds one of the largest portfolio sales on record, KKR and Pimco’s purchase of Westpac’s RAMS book.
Six years ago, the same year technology buyout shop Thoma Bravo raised a record $22bn across three funds, more than doubling assets under management to $70bn, managing partner and firm namesake Orlando Bravo told Michael Milken that recurring revenue from software companies was safer than real estate.
