News & Insights
InsightsExcess Spread — NPL banks, forward-flow fusion
Market Wraps

Excess Spread — NPL banks, forward-flow fusion

Owen Sanderson19 Dec 2025 | Europe | 7 minute read
insights hero

Related Posts

Discover more insights.

Use the previous and next buttons or keyboard arrows to navigate between slides.

Private credit can’t have the best of both worlds anymore
News & Analysis
Distressed
LevFin
Private Credit

Private credit can’t have the best of both worlds anymore

One silver lining of the recent turbulence in private credit should be that people come to understand capital markets better.

13 Mar 2026
| US
| Europe
Forged docs, double-pledging and misappropriation of funds… MFS allegations pile up
News & Analysis
ABF
Distressed

Forged docs, double-pledging and misappropriation of funds… MFS allegations pile up

Court documents obtained by 9fin shed new light on the schemes allegedly used by Paresh Raja, the director of collapsed UK bridging lender Market Financial Solutions, to defraud institutional and high-net-worth funders — including loans to companies secretly controlled by Raja, forged loan documents, and double-pledged collateral.

13 Mar 2026
| Europe
Excess Spread — Vibes v code, CAULIFLOWER
Market Wraps
ABF

Excess Spread — Vibes v code, CAULIFLOWER

9fin | The investment banks exposed to MFS aren’t saying much, but institutions that weren’t have some stories. Asif Godall, formerly CIO of Cairn Capital (Polus), latterly head of EMEA markets at Mizuho, gave a long account of his engagement with MFS.

13 Mar 2026
| Europe
JP Morgan attempts to make markets on private credit secondaries amid software selloff
News & Analysis
Distressed
Private Credit

JP Morgan attempts to make markets on private credit secondaries amid software selloff

JP Morgan is attempting to reignite interest in private credit secondaries as the threat of new AI tools stirs unease in public markets, according to 9fin sources.

12 Mar 2026
| US
Post-LME blockers pave the way to Cumulus Media’s Chapter 11
News & Analysis
Distressed

Post-LME blockers pave the way to Cumulus Media’s Chapter 11

Cumulus Media filed for Chapter 11 protection, less than two years after completing an LME that was supported by a large majority of its existing debtholders. The post-LME exchanged debt is a case study in LME blocking mechanics.

11 Mar 2026
| US
Senate bill spells trouble for $50bn+ SFR RMBS market
News & Analysis
ABF

Senate bill spells trouble for $50bn+ SFR RMBS market

The 21st Century ROAD to Housing Act is already having a dampening effect on private real estate, 9fin reports.

10 Mar 2026
| Europe
| US