The Default Notice — Are you not retained?

Winding Up — Paris playbook and French-style restructuring

Ça va sans dire: with 12 deals on our restructuring database at various stages, from watchlist to in progress, and six completed so far this year, France remains the most active distressed market in continental Europe. That made it the obvious place for 9fin's first Paris restructuring panel — hosted at White & Case's Place Vendôme office on Monday 21 September — to take stock of the strategies shaping the market right now.

Excess Spread — Just deserts, private IG’s special sauce

Last week we ran a piece on Blackstone’s Project Quasar, the biggest trade in European NPL history. It was part of the clean-up of the collapsed Banco Popular Español in 2017, which saw Santander buy the firm for a symbolic euro, after regulators had road-tested the new European bank resolution framework and toasted all the hybrid capital. Even after these writedowns, Santander still fortified itself with a huge rights issue, anxious to bulk up and get well clear of any residual Spanish-banking-system jitters.

Europe IG Wrap — Central bank decisions weigh on issuance

Excess Spread — The almighty dollar, financing logistics

The old exorbitant privilege might be looking a bit creaky, with the 10-year nudging over 5% and absolutely no political prospect of prudence, but still, there’s only one capital market to go to if you absolutely must borrow gigantic sums of money.

Asia weekly — Brookfield, Naver said to eye up to $9bn loan

US IG Wrap — Rate week slows supply, Aon and ADI enjoy non-AI boost