The best and worst of high yield bond covenants

European bond investors: your restricted payment builder baskets are under threat! But also, you’re probably better protected against being J.Screwed than you were in the past.

Those are just two insights from 9fin’s European High Yield Bonds Covenants Report, which provides a deep dive on the state of high yield bond covenants, based on documentation from last year.

In this week’s episode of Cloud 9fin, our host Jennifer Munnings digs into the report’s findings with our senior legal consultant Chris Osborne, who co-authored the report with Alice Holian.

They also discuss our recent piece about EG Group’s recent dividend blockers, which you can read here.

Creators and Guests

Producer

Chase Collum

Head of Podcasts for 9fin Limited

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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