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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 profess ...
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A closer look at the forces reshaping credit across EMEA and beyond. This podcast cuts through the noise of European credit markets to bring you sharp, timely analysis of what’s really driving deals, defaults, and everything in between. Hosted by Octus editors Phoebe Appinting and Chris Huffenden, Credit Lens blends market intelligence with behind-the-scenes context—from distressed debt and restructuring dynamics to primary issuance trends, geopolitical flashpoints, and private capital flows ...
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Shlomo in Thirty

Shlomo Chopp

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Welcome to Shlomo in Thirty. In 30-seconds Shlomo Chopp will share thoughts and opinions guidance on topics such as real estate, finance, debt restructuring and reinventing retail. A bit about Shlomo, in 2003 he started in a sector that ultimately became known as PropTech. Since then he's been investing in commercial real estate and restructuring complex loans. In 2021 he was granted his first patent for the reinvention of the shopping center and e-commerce - with others pending.
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Lunch Money

Hermes Capital

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A weekly look at current Australian business finance issues and events, as seen through the eyes of corporate and commercial “special situations”, “workout” and industry experts. Nick Samios hosts a panel comprising Australia’s leading restructuring, capital raising and industry sector specialists for views and analysis from these practitioners who have “skin in the game” – either as hard currency or through their PI policies! Fund Manager Nick Samios is the Managing Director of Hermes Capit ...
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In this episode of Jane’s LME Addiction, 9fin’s head of LME coverage Jane Komsky brings in Mudrick Capital Management founder, Jason Mudrick, and Akin Gump partners Dan Fisher and Jaisohn Im to discuss disqualified lender (DQ) lists. They discuss the the goal of DQ lists, whether they actually work (spoiler: they believe they do not), and the impli…
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Earlier in June, Ares priced its first direct lending CLO, the second of its kind of Europe, but with a twist — it is priced in sterling. The last 12 months have been a busy time for the private credit giant, as they also completed a €30bn fundraise in Europe and opened a new office in Milan. In this episode of Cloud 9fin, senior private credit rep…
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In this episode of Jane’s LME Addiction, our head of LME coverage Jane Komsky brings in founding partner of Selendy Gay, Jennifer Selendy, to discuss LME litigation. They discuss the perspective of excluded lenders, when it makes sense to hold out, and why we have yet to find any certainty on the validity of specific LME tactics and debt document l…
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AI isn’t knocking politely—it’s blowing the doors off European credit. Chris Haffenden and Phoebe Appenteng go deep into how generative AI is hammering the business process outsourcing sector, with Foundever and Transcom debt trading at distressed levels, and bondholders scrambling for clarity. Klarna's call center pivot? Already reversed. But the …
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It has been a busy month for the Significant Risk Transfer (SRT) market as investors returned from the Global ABS conference in Barcelona earlier this month to a flurry of new deals, 9fin’s Celeste Tamers reported. In this episode of Cloud 9fin, US distressed debt reporter Ayden Crosby is joined by David Lucking, a partner in Linklaters' US structu…
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In this episode of Cloud 9fin, Tanvi Gupta, global head of CLOs at 9fin, talks with Sumer Chopra, director at Alumia, to discuss how CLOs have gone from an exotic to an essential product in the eyes of institutional investors. They discuss what’s led to the boom of family offices allocating to CLOs, double-Bs and single-Bs outperforming CLO equity,…
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We are back to France — the current epicentre of European credit stress — for our second episode of Distressed Diaries. Over the last few months, French lab company Cerba’s debt has taken a beating as fears mount over its unsustainable €3.8bn capital. Most recently, 9fin reported that creditors have started to organise and appointed legal advisors …
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President Donald Trump’s much anticipated ‘Liberation Day’ sent global markets into a tizzy in April, but how did private credit firms react? During what we have termed the ‘Deliberation Days’ of Q1, private credit investors were scrambling to mitigate potential tariff risks as best they could but they were also on the offensive. Elijah Jackson’s l…
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In Episode 5 of Credit Lens: Europe & Beyond, hosts Chris Haffenden and Phoebe Appenteng dig into the latest wave of telecom restructurings, global tariff tensions, and the financial fallout hitting oil producers like Tullow. They break down Altice International’s debt position and ask whether Patrick Drahi is about to run the same playbook again. …
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In Episode 4 of Credit Lens: Europe & Beyond, hosts Chris Haffenden and Phoebe Appenteng break down how fashion, restructuring law, and unexpected animal tech are all making waves in European credit. They open with the rise and fall of high-yield fashion. From Golden Goose’s tight issuance to Isabel Marant’s sinking notes, they examine which brands…
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In Episode 3 of Credit Lens: Europe & Beyond, hosts Phoebe Appenteng and Chris Haffenden tackle the big credit themes shaping European markets right now. They start with Cerba and the rising fear of LMEs in Europe, questioning whether Altice-style tactics are becoming the new normal. Then it’s on to French retail, where Casino’s failed turnaround h…
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In Episode 2 of Credit Lens: Europe & Beyond, hosts Phoebe Appenteng and Chris Haffenden break down the pressure points moving Europe’s credit markets. They open with Petrofac’s UK restructuring, where a judge called the process a “car crash,” and explain why legal timelines are under fire. From there, they unpack the private equity world’s scrambl…
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In this week’s episode of Syndication Nation, a podcast dedicated to all things leveraged finance-related, 9fin deputy editor Sasha Padbidri and head of legal James Wallick have put together a terrible headline and a great conversation on the emergence of President Donald Trump’s tariff language in new issue debt documents. For more details (and te…
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In this episode of Jane’s LME Addiction, our head of LME coverage Jane Komsky brings in Rachel Murray, a managing director at Moelis, to discuss how today’s restructuring environment compares to the Covid era and how that experience can guide clients. They discuss what makes an LME effective, in addition to current trends and techniques that are sh…
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In this episode of Cloud 9fin, Tanvi Gupta, global head of CLOs at 9fin, talks with Yang Xu, CEO at City Hall Capital, to discuss the growth of family offices allocating to CLOs. They talk about how CLO equity and mezz ticks all the boxes for family offices, the need for more double-B CLO funds, captive equity vs third party equity funds, and how C…
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In the premiere of Credit Lens: Europe & Beyond, hosts Phoebe Appenteng and Chris Haffenden zoom out from single-name headlines to explore the bigger themes shaping European credit. They unpack Petrofac’s restructuring chaos, decode the rise of DPI as private equity’s pressure point, and explain why IPO chatter might be more about signaling than ac…
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In the inaugural episode of Syndication Nation, 9fin’s podcast on all things syndicated debt, deputy editor William Hoffman joined US managing editor Bill Weisbrod to talk about his recent coverage of Warner Bros. Discovery and its $37bn of debt to high yield by S&P. They discussed what led to the downgrade, the prospects for the company reaching f…
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In today’s market, speed of information and up-to-the-minute accuracy are essential in portfolio management. With that in mind, Chase Collum, head of podcasts at 9fin, sat down with Scott Alintoff at FIS to discuss how lenders can ensure they’re staying ahead in these turbulent times. In this third of a series of discussions, Scott shares a high le…
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Altice France’s restructuring negotiations has been one of the hottest talks of the distress town since last year. With the company now preparing to enter into accelerated safeguard proceedings, we went through what happened so far in our inaugural episode of Distressed Diaries — a brand new 9fin podcast series focused on distressed debt in Europe.…
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US tariff policy has unleashed economic uncertainty both domestically and elsewhere. Even after a de-escalation of the worst trade tensions with China, things are still unclear. In this episode of Cloud 9fin, distressed debt reporter Max Reyes sits down with Canyon Partners opportunistic credit co-heads Chaney Sheffield and Jonathan Barzideh to bet…
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Here at 9fin, we pride ourselves on being private credit enthusiasts. And that means covering all parts of the market, big or small. This includes all the nascent and niche areas like venture debt and tech lending. In this episode of Cloud 9fin, senior private credit reporter Peter Benson sits down with Ron Daniel, co-founder and CEO of Liquidity G…
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Generally speaking, lenders don’t lend money to companies with the intention of ending up as equity owners. But things don’t always go to plan. And anyone who’s been there can tell you that the hard truth for certain companies is that no plan could have ever saved it — or as Jon Weber would say: “If the baby’s ugly, the baby’s ugly.” In this week’s…
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A seemingly endless cycle of tariff pronouncements and delays has been sending stocks and liquid debt markets on a roller coaster ride in recent weeks. But what does ever-changing US tariff policy and associated market volatility mean for private credit firms? How do direct lenders keep protect themselves from the fallout and what are the key point…
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In this episode of Cloud 9fin, Tanvi Gupta, global head of CLOs at 9fin, talks with Carlyle’s Lauren Basmadjian, global head of liquid credit, and Matt Maxwell, head of US loans, to discuss how CLO managers are positioning themselves in the current tariff induced volatility. They talk about taking advantage of the dislocation in the market, sector …
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In this episode of Jane’s LME Addiction, our head of LME coverage Jane Komsky brings in founder and board member of Creditor Rights Coalition, Dan Kamensky, to discuss treatment for similarly situated creditors within liability management exercises. They discuss when disparity in treatment becomes an issue, lender tools to fight back, and where adv…
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On why some lower middle market lending specialists like to stay investing in companies with a sub-$50m EBITDA, they like to joke that it is because they like covenants. With some larger private credit managers jostling for deals at the upper end of the middle market, a larger number are sticking to their knitting in focusing on financing those sma…
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Was Ardagh's carve-out of its metal packaging business in 2021 an early example of a European LME before LMEs went global? Call it what you will, the troubled packaging conglomerate is getting a taste of both the potential upside and the backlash caused by these controversial financial maneuvers. In this episode, 9fin's global head of restructuring…
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No one likes that feeling of being a little too thick in the middle. But finding the right balance of strength and cushion is no easy task. We’re talking about the middle office here, of course. The middle office may not always be in the spotlight, but when loan data goes awry it’s the team that keeps the gears turning and numbers in check. In this…
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AI is eating the world, or so the headlines say. But what does this really mean for debt markets? Where does AI truly excel, and what limitations persist? What implications does this technological shift hold for analysts' jobs? And how is 9fin deploying AI to address specific challenges confronting debt market professionals? Sujeet Indap, Wall Stre…
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In the credit markets, it’s important practitioners get their fax straight. No, you didn’t read that wrong — even in 2025, people still use fax machines to transmit some loans data. In our latest Cloud 9fin episode, Chase Collum, head of podcasts, and private credit analyst Devin McGinley, sit down with John Smullen, product manager at FIS. They ch…
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In this episode of Jane’s LME Addiction, our head of LME coverage Jane Komsky brings in global chair of Gibson Dunn’s restructuring group, Scott Greenberg, to discuss the evolution of cooperation agreements within liability management exercises. They discuss the different types of co-ops, why co-ops have become expected in US deals, their spread to…
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Three media companies, in vaguely the same vicinity, in fair debt markets where we lay our scene — where ancient business models encounter new scrutiny, and AI generates images you can’t unsee… Valentine’s Day has been and gone, so why on earth are we besmirching Romeo and Juliet with terrible puns? You should listen to the episode for the full pic…
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In the private equity world, continuation vehicles have been a bit of a blockbuster, so can the structure's success transfer to private credit? We have already seen BlackRock's $1.3bn continuation vehicle last year, and some market participants are expecting to see even more in 2025. On the other side however, this might not be as straight forward …
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We talk a lot about leverage at the 9fin office (it’s kind of the story behind our company name, in case you were wondering) so it should come as no surprise that we think it’s interesting. But in the world of Significant Risk Transfer, it’s especially fascinating — and controversial. You may have caught the story that Celeste Tamers, part of our g…
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Long live liability management. In this episode of our new show Jane’s LME Addiction, our head of LME coverage Jane Komsky brings in Latham & Watkins partner George Klidonas and C Street founder and CEO Jon Henes, to discuss the Better Health transaction and its implications for future LMEs. Also under discussion: how liability management has taken…
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