Debtwire

At our Miami event in December last year we launched next-generation Debtwire. The first end-to-end platform for Leveraged Capital Markets professionals. Since then, we've been working on improving our capabilities. Last week in Miami, our Chief Content Officer Yana Morris took us on a fascinating journey through the evolution of Debtwire's next generation, using the captivating story of Rite Aid as a guide. This name has been a constant source of focus for our team for the past two years, offering invaluable editorial and data insights through advanced capabilities of our revolutionary platform. Trial next-generation Debtwire today: https://lnkd.in/eRZa5Rzc

The advent of ESG financing in recent years brought with it the rise of a seemingly dynamic product, the sustainability-linked loan (SLL). The product, once touted as a game-changer for developed and emerging markets alike, was poised for exponential growth. Borrowers were attracted by the optics of entering into an unchartered market and a potential reduction in their cost of funding, and lenders were keen to bolster their ESG credentials. But now, market participants tell Debtwire the product is no longer in vogue: https://lnkd.in/exY8tiBZ

CalAmp, a wireless communications and engineering company secured interim bankruptcy court approval to use cash collateral as it pursues a prepackaged Chapter 11 reorganization plan that a judge will consider for confirmation in July. The judge also gave interim approval to a host of other first day motions seeking customary forms of administrative and operational relief meant to smooth CalAmp’s transition into bankruptcy protection. Those additional approvals included authorization for the company to pay wages to employees, meet its tax obligations, and continue using its bank accounts to manage its cash: https://lnkd.in/eugTwSvK

Tomorrow, Debtwire’s Private Credit Forum will kick off in New York, exploring whether the private credit boom is fleeting or will continue as an unstoppable force. In Europe, momentum is only growing. Below is data from Debtwire underscoring this trend: • Deal counts are rebounding: 79 new small-cap and 92 mid-cap deals in Q1.  • Markets recovered from early 2023 lows, showing strong momentum into 2024.  • Half of Q1 2024 small-cap deals came from the UK and DACH regions, with strong performance in Eastern Europe. UK firms led mid-market deals with 33%, followed by French firms at 25%. At the forum, we will be sharing our data insights about how the US compares. Join us for the event, or follow on demand here: https://lnkd.in/e_mcXp-i #privatecredit #IONAnalytics #Debtwire

Abu Dhabi Future Energy Company (Masdar), a UAE-based renewable energy company, is yet to mandate banks for an up to USD 1bn green bond, which could launch before the summer, a company executive told Debtwire. Masdar expects to market the upcoming green bond primarily among international investors, as was the case with its debut USD 750m 4.875% 10-year green bond issued in July 2023. More here: https://lnkd.in/e_HZxSTB

Curious about how private credit investors can leverage crossover opportunities in infrastructure finance? Join us next week at the Debtwire Private Credit Forum New York! Todd Koretzky from A&O Shearman and Sarosh Nentin from BlackRock will delve into this topic in an insightful fireside chat. Don’t miss out, register now: https://lnkd.in/gPTFxDBS

Paraguay-based meatpacker Frigorifico Concepcion (B/B) has not been able to resolve creditors’ concerns regarding liquidity pressures and its relationship with certain trading partners, despite having received a clean opinion in its final audited 2023 financial statements, said three buyside sources and a lawyer following the matter: https://lnkd.in/e87DSxRf

Next week at the Debtwire Private Credit Forum New York, Debtwire's Amelia Weitzman will be joined by a panel of top institutional investors to discuss their allocations to private credit and their outlook for the year ahead. 📈💼 🌟 Don't miss the opportunity to hear from: - Fran B., PSP Investments - George Coles, Caisse de dépôt et placement du Québec (CDPQ) - Kenton Freitag, BCI - Amir Madden, APG Asset Management - Christopher Witkowski, Ontario Teachers' Pension Plan 🎟️ Over 450 delegates have already registered. Be sure to register today to join them: https://lnkd.in/gPTFxDBS

Debtwire’s Likely to Distress (LTD) score is our industry-first predictive metric for leveraged corporate issuers. Based on this score, we’ve listed the companies with a score of 91-99, those in the Distressed Life Cycle. In our June edition of the Distressed Watchlist, 75 borrowers qualified – the top 10 can be found below. Unsurprisingly, as Healthcare companies now account for 28% of all bankruptcy cases this year - by far the most of any single sector – the sector continues to show signs of distress. The communications, media & technologies sector also remains in the spotlight this month. To get full access to the Distressed Watchlist and monitor for further developments, trial Debtwire today: https://lnkd.in/eex4b6Vr

The Eurobond market provided a crucial funding lifeline for many African sovereigns over the past decade, allowing them to raise billions of dollars to finance infrastructure projects and plug budget deficits. However, the last couple of years have presented exceptional challenges in accessing the market. While Cote d’Ivoire, Benin and Kenya have all issued Eurobonds this year, many African governments remain priced out of that market, or have opted to postpone issuance plans. This funding crunch has compelled sovereigns to diversify their borrowing sources, increasingly turning to the commercial syndicated loan market for financing: https://lnkd.in/e28jU2-q