Reorg Research

This week we take a look at OSG Group, Avaya, Talen Energy and Bausch Health. We are taking a brief recess from our weekly Deep Dive but will be back next week with more premium content.

Each episode of Reorg's weekly EMEA Core Credit podcast series features detailed discussion on issues and companies across the credit lifecycle. This week’s podcast includes discussion of: - A summary of high-yield and loan credits with maturities in 2023, as a challenging primary market makes refinancing difficult. - The latest news on German real estate company Adler Real Estate. - An overview of Danish industrial engineering group Norican and the refinancing prospects of its €340 million senior secured notes due in May 2023. - Increased value leakage risks for lenders where a senior facilities agreement has a so-called Available Amount basket, with no annual excess cash flow sweep, and why bondholders also need to be concerned about this. Reorg is always looking for feedback to help us improve the podcast experience! Please take a moment to complete the short survey in the link below and let us know how we’re doing. https://www.research.net/r/Reorg_podcast_survey If you are not a Reorg subscriber, requ

This week we take a look at U.S. Renal Care, Bed Bath & Beyond, Revlon and Voyager Digital. We’ll be taking a brief break from our Deep Dive segment this week but will be back soon with more premium content. Reorg is always looking for feedback to help us improve the podcast experience! Please take a moment to complete this short survey and let us know how we’re doing. https://www.research.net/r/Reorg_podcast_survey

Each episode of Reorg's weekly EMEA Core Credit podcast series features detailed discussion on issues and companies across the credit lifecycle. This week’s podcast includes discussion of: - The short-dated bonds of U.K. car manufacturer Jaguar Land Rover, and why they are considered attractive. - U.K-based hosting and management platform Houst’s restructuring, which was the first successful use of a restructuring plan by a middle market company outside an administration. - The covenants in European leveraged loans and high yield bonds that have shaped up during the first half of 2022. - The latest developments in the European primary market, which have signaled an improvement in market conditions. If you are not a Reorg subscriber, request access here: go.reorg-research.com/Podcast-Trial.

This week we take a look at Aearo, Bausch Health, Gulfport, Boy Scouts and DIP Lender Strategies. We’ll be taking a brief break from our Deep Dive segment this week but will be back soon with more premium content.

Each episode of Reorg's weekly EMEA Core Credit podcast series features detailed discussion on issues and companies across the credit lifecycle. This week’s podcast includes discussion of: - The restructuring of Scandinavian Airlines, or SAS, which has filed for Chapter 11. - Ukrainian oil and gas company Naftogaz and the state’s sovereign debt situation. - The latest developments in the European primary market and investors expectations after the summer. If you are not a Reorg subscriber, request access here: go.reorg-research.com/Podcast-Trial.

This week we take a look at Celsius Network, Twitter, Audacy and cruise operators. We’ll be taking a brief break from our Deep Dive segment this week but will be back next week with more premium content.

Each episode of Reorg's weekly EMEA Core Credit podcast series features detailed discussion on issues and companies across the credit lifecycle. This week’s podcast includes discussion of: - Belgian manufacturer of bathroom products Ideal Standard, which has seen its bonds fall steeply since Russia’s invasion of Ukraine; - Ukrainian oil and gas company Naftogaz and the state’s sovereign debt situation. - The latest developments in the European the CLO market. If you are not a Reorg subscriber, request access here: go.reorg-research.com/Podcast-Trial.

This week we take a look at Celsius Network, Endo International, Talen Energy and Bed Bath & Beyond. For this week’s Deep Dive, we offer a replay of a June webinar where Mark Fischer, director of credit research at Reorg, Peter Washkowitz, head of Reorg Covenants, and Simran Bal, distressed debt analyst, provide an overview of the significant headwinds in front of financial and retail technology company Diebold Nixdorf as it faces a massive maturity wall in the next two to three years and walk through the company’s options and capacities under its debt documents.

This week we take a look at Voyager Digital Holdings, SAS, Altera and Talen. We’ll be taking a brief break from our Deep Dive segment this week but will be back next week with more premium content.

Each episode of Reorg's weekly EMEA Core Credit podcast series features detailed discussion on issues and companies across the credit lifecycle. This week’s podcast includes discussion of: - Hilding Anders’ restructuring plan; - 888 Holdings’ new debt package and the investor pushback it underwent; - Ukraine’s state oil and gas company Naftogaz and the country’s sovereign debt situation; and - The trend of direct lenders lowering the leverage they are willing to offer to support the buyout of some companies we cover. If you are not a Reorg subscriber, request access here: go.reorg-research.com/Podcast-Trial.

Each episode of Reorg's weekly EMEA Core Credit podcast series features detailed discussion on issues and companies across the credit lifecycle. This week’s podcast includes discussion of: - The English High Court’s recent judgment on the winding up of Galapagos SA; - German discount retailer Takko’s restructuring options; - An increasingly common carveout in bond and loan documentation allowing borrowers to redirect asset sale proceeds; and  - The latest news from the European primary market. If you are not a Reorg subscriber, request access here: go.reorg-research.com/Podcast-Trial.

Each episode of Reorg's weekly EMEA Core Credit podcast series features detailed discussion on issues and companies across the credit lifecycle. This week’s podcast includes discussion of: - The near-term challenges facing German tissue paper manufacturer Wepa; - Russia’s eurobond Default - U.K. bricks and mortar retailer Matalan's new financing; - An overview of the primary market. If you are not a Reorg subscriber, request access here: go.reorg-research.com/Podcast-Trial.

This week we take a look at Crédito Real, LATAM Airlines, TPC Group and Mallinckrodt. We are taking a brief recess from our weekly Deep Dive but will be back next week with more premium content.

This week we take a look at Revlon, Altera, Endo and TPC Group. For this week’s Deep Dive, Senior Covenants Analyst Julian Bulaon speaks with Eitan Goldberg, a senior finance attorney who recently joined Proskauer’s Private Credit Group. Goldberg and Bulaon reflect on Goldberg’s experience practicing in the worlds of both syndicated lending and private credit, which - despite historically serving different segments of the market - have converged in recent years as both types of lenders are increasingly competing for the same large-cap deals.

Each episode of Reorg's weekly EMEA Core Credit podcast series features detailed discussion on issues and companies across the credit lifecycle. This week’s podcast includes discussion of: - Nostrum Oil & Gas’ Scheme of Arrangement - Last week’s Global ABS conference in Barcelona and the current state of the European primary market - Greek cooler and glass manufacturer Frigoglass and its potential restructuring options - Ukraine’s sovereign bonds If you are not a Reorg subscriber, request access here: go.reorg-research.com/Podcast-Trial.

This week we take a look at Revlon, Bausch Health, Tenneco, Scandinavian Airlines and retail chapter 11 trends. For this week’s Deep Dive, Kevin Eckhardt, senior legal analyst for Americas Core Credit at Reorg and friend of the podcast, joins us to discuss Jarkesy v. SEC, a recent decision out of the Fifth Circuit court of appeals where the panel held that the SEC’s use of administrative law judges to resolve securities fraud cases violates the U.S. Constitution and the implications the decision could have on the viability of the current bankruptcy system.

Each episode of Reorg's weekly EMEA Core Credit podcast series features detailed discussion on issues and companies across the credit lifecycle. This week’s podcast includes discussion of: - French care home group Orpea’s new financing package; - Our latest cash flow model for French contract catering company Elior; and - Updates on the primary market and the ongoing fallout from Russia’s invasion of Ukraine. If you are not a Reorg subscriber, request access here: go.reorg-research.com/Podcast-Trial.

Each episode of Reorg's weekly EMEA Core Credit podcast series features detailed discussion on issues and companies across the credit lifecycle. This week, we speak about: Signs of life in the high yield bond and leveraged loans market The impact of carmaker McLaren’s first-quarter results report on its bonds The issues facing tech groups Yandex, Ozon and VK Company as a result of Russia’s invasion of Ukraine. U.K. consumer lender Amigo’s latest scheme of arrangement. If you are not a Reorg subscriber, request access here: go.reorg-research.com/Podcast-Trial.

This week, we take a look at Talen Energy, Diebold Nixdorf, Service King and TPC Group. Having nearly reached the official halfway point of 2022, for this week’s Deep Dive, we take a look back at some of the past year’s leading trends in the leveraged loan market in a replay of a webinar featuring Peter Washkowitz, head of Americas Covenants, discussing the continued evaporation of lender protections and the expansion of borrower flexibility in the leveraged loan market in 2021.