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Restructuring Day focused on the insights from investors about how they are evaluating distressed opportunities.
Debtwire Week concluded with the 10th annual Restructuring Forum, an annual fixture for opportunistic credit managers investing through the capital structure. Disruption was the theme for the programme, examining dynamics in retail and shipping sectors.
The discussion on shipping examined the investment and restructuring strategies in the offshore sector. As traditional shipping lenders (those that remain) continue to retreat, the panel explored the opportunities for non-bank financing. Whilst oil prices appear to have bottomed, there is much debt to be addressed in the offshore sector as producers and services companies navigate operations at lower price points with ageing fleets. The conversation considered if more large scale restructurings were likely or if the market would consolidate to make recovery plausible. Marion Halftermeyer from Debtwire chaired the discussion.
During the retail session, moderated by Robert Schach from Debtwire, a panel considered the outlook for a sector under the stormcloud. UK retailed have been tackling currency headwinds ever since the Brexit vote. The buoyant consumer spending which followed now looks shaky, as inflation pressures begin to bite. Restructuring expertrs are watching closely.