Sergio Velez, Senior Managing Director and Responsible for FTI Consulting Madrid Office joined us on Markets Day to highlight the pre and post transaction key operational aspects to bear in mind in Spanish debt transactions. The presentation looked at the common grounds between lenders and investors and the strategies used in debt restructurings, with case studies used as real world examples.
Distressed investors have long become resigned to too much liquidity in the European leveraged finance market providing get-out-of-jail-cards to many borrowers, and looming political risks not being priced in.
Some 200 attendees rolled into Debtwire’s “Leveraged Finance Day” – the opening event for Debtwire Week – at London’s Waldorf Hilton hotel yesterday (10 October) to hear a plethora of opinions and predictions for European leveraged finance, with panel topics spanning the state of high yield bonds and TLB markets, to covenants critique, CLOs and direct lending.
Leveraged Finance Day considered the outlook for loan and bond markets. The impact of buoyant valuations and ample liquidity was a theme throughout the discussions. Watch sessions from the event again.
Download the keynote presentation from Peter Dixon, Chief UK Economist at Commerzbank from the Leveraged Finance Day at Debtwire Week. Peters keynote looked at the macro-economic landscape and what can be expected in the financial markets in the future.
Andreas Ziegenhagen, European Head of the Restructuring, Insolvency and Bankruptcy at Dentons tells us where he sees European restructuring heading in the next 12 months and what he learned from the past year.
The European commercial real estate market got off to a slow start in 2017. Transaction volumes during the first quarter are thinner than a year earlier. However, there are enough interesting themes emerging this year.
2016 proved to be another challenging year for the restructuring community, mostly as a result of a continued slim pipeline of workouts and distressed opportunities. Hedge fund returns remained well off the pace of their previous years, although bets on commodities, especially oil & gas, paid out handsomely, enabling many funds who had jumped in too early the prior year to make good their previous losses.
Last year defied many forecasts, with the Brexit referendum and election of US President Trump both upsetting the odds. This year could also be challenging for leveraged finance, with reduced central bank tailwinds as well as the triggering of Article 50 in the UK. Commodity-price volatility also leaves further jitters ahead, while the Netherlands, Germany, France and Norway face elections.
Something went wrong.
An error occurred trying to play the stream. Please reload the page and try again.