Drama across the pond in Altice’s sprawling capital stack kept US leveraged finance investors on their toes this week, while some trickier deals such as Russell Investments labored to get done in a primary market that’s still cautious around riskier names.

The French telecom company’s faceoff with investors over how €2.1bn of proceeds from asset sales will be used — and talk of haircuts to reduce leverage — has spooked holders of Altice France debt, which is held widely across both US and European CLOs. (We’ve written nine articles on the situation over the past two weeks, click here if you missed any).