The first half of 2024 has been a bumper year for European Collateralized Loan Obligations and a mix of market and legislative catalysts could push the second half into record-breaking territory The European Collateralized...more
In 2023, despite aggressive predictions of a near-term recession, the economy remained relatively steady. This resulted in an uneven year for restructuring. Substantial money has been raised in the private credit markets and...more
Mit dem Inkrafttreten des Kreditzweitmarktgesetzes am 30. Dezember 2023 sind Dienstleistungen in Bezug auf sogenannte Non-Performing-Loans, also Kredite, die nicht mehr bedient werden oder vom Ausfall bedroht sind,...more
On 30 December 2023 the German Secondary Credit Market Promotion Act (Kreditzweitmarktförderungsgesetz) entered into force, which simplifies dealing in non-performing loans (“NPLs“) by introducing a new law, the German...more
Meanwhile, cash-strapped biotechs have in many cases been forced to leverage relationships with big pharma to address liquidity. Cash is king in a financing environment such as we have observed over the last 18 months, and...more
We are delighted to publish this briefing on current trends in Asia-Pacific (APAC) private real estate funds. This is the first time that Goodwin, IQ-EQ, and KPMG in Singapore have collaborated on such a project, and we...more
Notwithstanding at least some deterioration in documentation standards towards the top-end of the private credit market in recent years, maintenance leverage covenants have remained a pervasive feature of unitranche as an...more
At the start of June 2022, the prevailing rate for the sterling overnight index average (SONIA) was 0.94%. Just 12 months later, SONIA has risen to 4.43%, and comparable increases in the equivalent reference rates have been...more
As of the date of publication of this inaugural Debt Download, the credit markets remain challenging. Nevertheless, we are seeing glimmers of optimism: a hope that with the approaching new year (with its attendant refreshed...more
Last Wednesday, the attorneys general of Illinois, California, and New York filed a lawsuit in the United States District Court for the Northern District of California challenging the Office of the Comptroller of the...more
Thomas Cook Takeaways - For credit default swap (CDS) protection buyers with protection on Thomas Cook Group Plc, a U.K. scheme of arrangement paving the way for a £1.6 billion debt-to-equity exchange imposed on all debt...more
INTRODUCTION - It has been a busy few months for private equity activity in Africa. Statistics and transactions have illustrated a growing appetite for investment in the continent and, crucially, growing confidence and...more
The Israel Securities Authority (ISA) recently published an advisory document for public comment ahead of the publication of a legal memorandum for the regulation of the securitization field in Israel....more
On 5 April 2019, the European Commission (EC) published its report on the EU syndicated lending sector, “EU loan syndication and its impact on competition in credit markets” (the Report). The Report has now been anticipated...more
The long awaited European Commission report into syndicated lending was published this yesterday. This report (produced for the European Commission by Europe Economics) follows the EC’s investigations into potential...more
In the financial technology industry (fintech), 2018 was a fascinating and fast-paced year. The digital finance industry has started to mature and flourish, with more creative niche originators than ever before, more...more
The Second Circuit Court of Appeals’ May 22, 2015, decision in Madden v. Midland Funding, LLC held that a nonbank entity taking assignment of debts originated by a national bank is not entitled to protection under the...more