LevFin Wrap - Short of Breath

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.

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.

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.

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.

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.

Alphabet century sterling steals spotlight in triple-currency spree