Webinar replay — Rising from the Caches - Triaging the good software credits from those rendered obsolete by AI

In this webinar, 9fin host and global head of distress and leveraged finance Max Frumes, co-author of The Caesars Palace Coup, was joined by Ari Blaut, Partner at Sullivan & Cromwell, Benjamin Beller, Partner at Sullivan & Cromwell, Sean Cannon, Managing Director at GLC Advisors, Bruce Mendelsohn, Partner at Perella Weinberg Partners, and Matt Rahmani, Managing Director at Perella Weinberg Partners.

We discussed:

• AI winners and losers in software credit: Which software credits were positioned to benefit from AI, and which were most likely to be displaced by it.
• Structuring around AI uncertainty: How advisors were approaching new deals and restructuring transactions to account for AI-related risks and unpredictability.
• The rise of "par" amend-and-extend: How these structures — with defined exit paths through sale, refinancing, or equitization — are emerging as an alternative to more traditional liability management transactions.