Highly indebted companies are kicking off the new year by ramping up their efforts to address the mounting backlog of 2025 and 2026 maturities.
That is especially true in the loan space, with a mix of active restructuring scenarios and special situations that began in 2023 or earlier: including Audacy, Diamond Sports, Yellow, Lumen,and SignatureBank. Others are just getting started: CommScope, Astound, GoTo, Hearthside, LifeScan and Enviva.
Below is a brief look at some notable trends in US special situations and restructurings that the distressed news team at 9fin will be focused on as 2023 fades into the rear view.
We’re tracking $81bn in bond and term loan maturities in 2024 and $252bn in 2025, with 19% of credits coming to term in 2024 falling into the stressed or distressed category: