Excess Spread - SRT blues, the Bermudan bid, Dutch deluge

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Market Wraps

ABF

Excess Spread — Crypto bonds, end of a Century

9fin | Excess Spread is our weekly newsletter, covering trends, deals and more in structured credit and ABF.

13 Feb 2026

Trend Reports

LevFin

H2 25 US Leveraged Loans Covenant Trends Report

9fin's H2 2025 US Leveraged Loans Covenant Trends Report analyzes the full loan universe (144 deals) — giving teams defensible, structured visibility on where the market is clearing.

12 Feb 2026

| US

9Questions

LevFin

9Questions — Michael Graham, AXA IM Core at BNP Paribas Asset Management — Outlook for 2026

9fin | 9Questions is our Q&A series featuring key decision-makers in the corporate credit markets. This interview is with Michael Graham, AXA IM Core at BNP Paribas Asset Management.

12 Feb 2026

News & Analysis

LevFin

IVC pulls debt extension

9fin | Jitters in the credit markets have seemingly claimed another victim. That’s after veterinary clinic group IVC Evidensia (B3/B-/B) decided to pull its 2031 A&E due to adverse market conditions, market sources told 9fin.

12 Feb 2026

News & Analysis

LevFin

Insurance brokers in the firing line as AI fears spread

9fin | Hopes that the AI-driven selloff would stay contained to the software sector are fading, as multiple buyside sources pointed to the sudden weakness in bonds and loans from insurance brokerages this week over concerns that AI could provide a viable alternative to their services.

11 Feb 2026

| US

Podcasts

Cloud 9fin — Turning working capital into liquidity with SLR’s Mitch Soiefer

9fin | On this episode, Anna Russi speaks with Mitch Soiefer, partner and head of lender finance at SLR Capital Partners, to unpack how working capital assets are being carved out of traditional credit agreements to keep capital flowing, and why these structures tend to show up late in the credit cycle.

11 Feb 2026