Excess Spread — MFS mechanics, the rise of the pods

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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

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

Trend Reports

Private Credit

The state of private credit in 2026

Private credit built its growth story on software, retail capital, and loose docs. And right now, all three are under pressure simultaneously. In our state of private credit 2026 whitepaper, we map where those pressures stand at the halfway point, and where they're most likely to land in H2.

12 May 2026

| US

News & Analysis

Private Credit

Taking the Credit — Hedge funds deepen private credit’s identity crisis

Hedge funds have made significant strides into private credit recently, tapping into an existential question for an asset class struggling amid fears of fraud, defaults and looming maturity walls: what exactly is private credit?

8 May 2026

| Europe