April LME update — Two LMEs close, pre-LME pipeline grows to 13

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News & Analysis

Investment Grade

Constellation Energy taps IG market for data center fuel

Constellation Energy raised $2.2bn in the investment grade bond market this week, more than doubling its debt stack after tapping the primary for the second time this year.

14 May 2026

| US

News & Analysis

Distressed

Boutique banks’ restructuring fortunes diverge in 1Q 26

Boutique investment banks reported sharply diverging fortunes in restructuring businesses during 1Q 26, with PJT reporting a record first quarter boom in restructuring fees while some of its rivals reported a drop in fees from the same period last year.

14 May 2026

| US

Market Wraps

ABF

Excess Spread — MFS mechanics, the rise of the pods

This week brought a bombshell document, filed as part of a suit against CEO Paresh Raja himself, which distills some of the findings from the investigations conducted by opco administrators AlixPartners.

14 May 2026

| Europe

News & Analysis

LevFin

Shapoorji targets 18.95% on INR 255bn Goswami refi deal

India’s Shapoorji Pallonji Group (SP Group) has proposed an initial pricing of 18.95% in rupee terms for its INR 255bn ($2.7bn) dual-currency fundraise aimed primarily at refinancing rupee-denominated notes issued by group entity Goswami Infratech, 9fin sources said.

14 May 2026

| APAC

News & Analysis

ABF

Distressed

Boxes of cash and disappearing messages — How administrators say Raja pulled off MFS fraud

New court allegations have laid bare the mechanics of the Market Financial Solutions alleged fraud, including wholesale destruction of documents, boxes full of cash, treasury employees managed by disappearing messages, and a portfolio of luxury properties worth nearly £1bn.

12 May 2026

| Europe

News & Analysis

ABF

CLO

Private Credit

Distressed

LevFin

The Taste of Leverage

Over the past few decades, private capital has reshaped London’s food culture. It began in the late eighties after the Big Bang reforms, and gained pace in the 2010s after the financial crisis, when interest rates basically went to zero. In the 2020s, the double whammy of Covid and TikTok tastemaking changed the game even more.

12 May 2026

| Global