Cloud 9fin

In recent years, the term ‘lender-on-lender violence’ has become a popular way to refer to deals that are more politely known as ‘liability management exercises’.

Both terms are euphemistic — so what are we actually talking about here? And what happens when these often quite bruising battles between companies, their sponsors and their lenders, take place in the (supposedly) quieter and more genteel world of private credit?

For this week’s episode of Cloud 9fin, our host Will Caiger-Smith hits up Damian Ridealgh and H.T. Flanagan of Freshfields to figure out how liability management became all the rage, and how lenders are trying to protect themselves against it.

What is Cloud 9fin?

Leveraged finance, distressed debt, and private credit drive today’s markets. Cloud 9fin delivers expert insights on high-yield bonds, syndicated loans, direct lending, and debt restructuring. Join top analysts and investors as we explore credit markets, special situations, and private debt strategies shaping the industry.

From credit risk assessment to institutional credit trends, each episode provides actionable intelligence for fund managers, institutional investors, and financial professionals. Whether you’re tracking high-yield issuances, analyzing corporate debt, or uncovering distressed debt opportunities, we’ve got you covered.

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