Cloud 9fin
194 episodes - English - Latest episode: 6 days ago - ★★★★★ - 6 ratingsGet the download on debt markets with Cloud 9fin, where our team pulls back the curtain on corporate credit and gives you the inside scoop on leveraged finance, private credit, distressed debt and everything in between.
Through its AI-powered data and analytics platform, 9fin provides everything you need to get your head around credit or win a mandate — all in one place. We help subscribers win business, outperform their peers and save time.
Come and join the discussion on the hottest debt market stories, with our expert in-house team and special guests.
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Episodes
Financing football, restricted group, creative KPIs
May 19, 2022 18:19 - 19 minutes - 35.8 MBThe 9fin content and analytics team wraps up the week's activity, head of covenant research Caitlin Carey walks us through the restricted group concept and credit analyst Josh Latham discusses creative KPIs using rhino bonds as an example and analyses possible creative KPIs for Unilever Tea. Senior reporter Owen Sanderson also talks the recent LaLiga financing with loans reporter Kat Hidalgo. 0:00 - Intro 0:56 - Levfin Wrap 2:17 - Covenant close-up: Restricted Group Concept 7:37 -...
The price isn't right, with Frank Ossino of Newfleet Asset Management
May 12, 2022 19:10 - 22 minutes - 52.3 MB9fin's US editor Will Caiger-Smith chats with Frank Ossino of Newfleet Asset Management about recent market volatility, the impact of monetary policy on leveraged loans, and how the rising cost of issuance could affect struggling borrowers.
US Edition — Frank Ossino, Newfleet Asset Management
May 12, 2022 19:10 - 22 minutes - 52.3 MB9fin's US editor Will Caiger-Smith chats with Frank Ossino of Newfleet Asset Management about recent market volatility, the impact of monetary policy on leveraged loans, and how the rising cost of issuance could affect struggling borrowers.
US edition — Q&A with Frank Ossino of Newfleet Asset Management
May 12, 2022 19:10 - 22 minutes - 52.3 MB9fin's US editor Will Caiger-Smith chats with Frank Ossino of Newfleet Asset Management about recent market volatility, the impact of monetary policy on leveraged loans, and how the rising cost of issuance could affect struggling borrowers.
Inflation in Q2, Frankfurt Seminar review, Miller Homes
May 06, 2022 08:42 - 19 minutes - 36.5 MBThe 9fin content and analytics team wraps up the week's activity, legal analyst Alice Holian tells us about her experience at the Frankfurt Seminar for High Yield and Leveraged Finance in Europe, ESG analyst Jack David discusses recent trends in green bond issuance and discusses the ESG credentials of Miller Homes and Biofarma. Loans reporter Laura Thompson and senior reporter Owen Sanderson discuss the impact of inflation on the LevFin pipeline in Q2. 0:00 - Intro 0:55 - Levfin W...
US edition — Decoding Twitter's deal with 9fin CEO Steven Hunter
April 27, 2022 13:16 - 16 minutes - 30.2 MBIn case you haven't heard, Elon Musk is buying Twitter. So for this week's episode, our US editor Will Caiger-Smith quizzes Steven Hunter, 9fin's CEO, on the deal's structure, how it might come to market, and what Twitter might look like as a credit.
US Edition — Decoding Twitter's deal
April 27, 2022 13:16 - 16 minutes - 30.2 MBIn case you haven't heard, Elon Musk is buying Twitter. So for this week's episode, our US editor Will Caiger-Smith quizzes Steven Hunter, 9fin's CEO, on the deal's structure, how it might come to market, and what Twitter might look like as a credit.
Decoding Twitter's deal
April 27, 2022 13:16 - 16 minutes - 30.2 MBIn case you haven't heard, Elon Musk is buying Twitter. So for this week's episode, our US editor Will Caiger-Smith quizzes Steven Hunter, 9fin's CEO, on the deal's structure, how it might come to market, and what Twitter might look like as a credit.
Schur Flexibles Update, Asset Sales, Prisa
April 21, 2022 16:50 - 20 minutes - 36.7 MBThe 9fin content and analytics team wraps up the week's activity, legal analyst Alice Holian discusses how the asset sales covenant can expand RP capacity, credit analyst Alex Manolopoulos discusses Prisa's ESG-linked loans and gives some insight into carbon credit quality, and editor Chris Haffenden gives us an update on the ongoing distressed situation for Schur Flexibles. 0:00 - Intro 0:51 - Levfin Wrap 1:48 - Covenant close-up: Asset sales covenant 7:12 - Please raise responsi...
US and Europe joint edition — Q&A with 9fin's editors
April 14, 2022 07:14 - 23 minutes - 43.1 MBThis week, Kat Hidalgo quizzes 9fin editors Will Caiger-Smith and Chris Haffenden on market trends across the Atlantic. They discuss the uptick in issuance as markets recover from the war in Ukraine, the attractiveness of loans versus bonds, sectors that are feeling the impact of inflation, and the potential for distress in first quarter earnings.
Market Reopening, Loans Portability, SEC Climate Disclosures
April 07, 2022 17:41 - 29 minutes - 54.3 MBLegal analyst Alice Holian and senior covenant analyst Brian Dearing discuss portability in loans and raise some red flags, ESG analyst Sam Stevens discusses the proposal for climate disclosures by the SEC, and loans reporter Michal Skypala and senior reporter Owen Sanderson talk about the nature of this week's market reopening. 0:00 - Intro 0:50 - Levfin Wrap 2:14 - Covenant close-up: Loans portability 13:47 - Please raise responsibly: SEC proposal for climate disclosure 19:06 - D...
US edition — Q&A with Todd Koretzky of Allen & Overy
March 31, 2022 17:35 - 19 minutes - 35.8 MBUS editor Will Caiger-Smith catches up with Todd Koretzky, a partner at Allen & Overy, to discuss shifting narratives around private credit. From the growth of big-ticket deals to the convergence of terms between syndicated and private debt, how should market participants think about the seemingly unstoppable rise of non-bank financing in leveraged credit?
The shifting private credit narrative, with Todd Koretzky of Allen & Overy
March 31, 2022 17:35 - 19 minutes - 35.8 MBUS editor Will Caiger-Smith catches up with Todd Koretzky, a partner at Allen & Overy, to discuss shifting narratives around private credit. From the growth of big-ticket deals to the convergence of terms between syndicated and private debt, how should market participants think about the seemingly unstoppable rise of non-bank financing in leveraged credit?
US Edition — Todd Koretzky, Allen & Overy
March 31, 2022 17:35 - 19 minutes - 35.8 MBUS editor Will Caiger-Smith catches up with Todd Koretzky, a partner at Allen & Overy, to discuss shifting narratives around private credit. From the growth of big-ticket deals to the convergence of terms between syndicated and private debt, how should market participants think about the seemingly unstoppable rise of non-bank financing in leveraged credit?
Aviation Sector, Available Amount Interpretations, Clean Energy Transition
March 24, 2022 18:51 - 23 minutes - 43.2 MBLegal analyst Alice Holian and senior covenant analyst Brian Dearing discuss how the available amounts concept can be interpreted, ESG analyst Jack David discusses the clean energy transition, and loans reporter Laura Thompson tells us about the current state of the aviation sector. 0:00 - Intro 00:48 - Covenant close-up: Available amount interpretations 9:52 - Please raise responsibly: Clean energy transition 14:28 - Deep discussion: Aviation sector
Changing dynamics, with Melanie Hanlon of Napier Park
March 17, 2022 15:44 - 20 minutes - 28.7 MBUS editor Will Caiger-Smith sits down with Melanie Hanlon, head of credit research at Napier Park Global Capital, to discuss changing dynamics in the primary and secondary loan market, second and third-order impacts of the war in Ukraine, and the evolution of ESG in credit.
US Edition — Melanie Hanlon, Napier Park
March 17, 2022 15:44 - 20 minutes - 28.7 MBUS editor Will Caiger-Smith sits down with Melanie Hanlon, head of credit research at Napier Park Global Capital, to discuss changing dynamics in the primary and secondary loan market, second and third-order impacts of the war in Ukraine, and the evolution of ESG in credit.
US edition — Q&A with Melanie Hanlon of Napier Park
March 17, 2022 15:44 - 20 minutes - 28.7 MBUS editor Will Caiger-Smith sits down with Melanie Hanlon, head of credit research at Napier Park Global Capital, to discuss changing dynamics in the primary and secondary loan market, second and third-order impacts of the war in Ukraine, and the evolution of ESG in credit.
Ukraine-Russia conflict, Ontex Change of Control, Russian red flags
March 10, 2022 17:00 - 27 minutes - 50.4 MBThe 9fin content and analytics team wrap up the week's HY and leveraged loans (non-existent) deals, head of covenant research Caitlin Carey and senior covenant analyst Brian Dearing discuss Ontex's change of control provision, ESG analyst Sam Stevens discusses ESG red flags present in Russian society prior to the current sanctions and editor Chris Haffenden and senior reporter Owen Sanderson give us the latest on the Russia-Ukraine conflict's effect on European leveraged finance. 0...
US Edition - Ukraine and its market impact
March 03, 2022 16:46 - 12 minutes - 16.6 MBAs Russia continues its invasion of Ukraine, US editor Will Caiger-Smith sits down with 9fin CEO and co-founder Steven Hunter to evaluate the conflict's impact on leveraged credit.
Ukraine and its market impact
March 03, 2022 16:46 - 12 minutes - 16.6 MBAs Russia continues its invasion of Ukraine, US editor Will Caiger-Smith sits down with 9fin CEO and co-founder Steven Hunter to evaluate the conflict's impact on leveraged credit.
US edition - Ukraine and its market impact, with 9fin CEO Steven Hunter
March 03, 2022 16:46 - 12 minutes - 16.6 MBAs Russia continues its invasion of Ukraine, US editor Will Caiger-Smith sits down with 9fin CEO and co-founder Steven Hunter to evaluate the conflict's impact on leveraged credit.
Schur Flexibles, Voting Caps, Care Homes
February 24, 2022 10:56 - 27 minutes - 49.9 MBThe 9fin content and analytics team wrap up the week's HY and leveraged loans deals, head of covenant research Caitlin Carey discusses voting caps, ESG analyst Sam Stevens discusses care home credits in light of the Orpea controversy and editor Chris Haffenden and loans reported Michal Skýpala give us the latest on Schur Flexibles, after the company's shock announcement to lenders. 0:00 - Intro 00:49 - Levfin wrap 01:24 - Covenant close-up: Voting caps 8:15 - Please raise responsib...
US Edition — Dave Preston, AGL
February 17, 2022 19:24 - 31 minutes - 43.2 MBIn this episode, US editor Will Caiger-Smith talks to Dave Preston of AGL about the expanding CLO investor base, leveraged loan underwriting standards, and ESG.
US edition - Q&A with AGL's Dave Preston
February 17, 2022 19:24 - 31 minutes - 43.2 MBIn this episode, US editor Will Caiger-Smith talks to Dave Preston of AGL about the expanding CLO investor base, leveraged loan underwriting standards, and ESG.
A widening base for CLOs, with Dave Preston of AGL
February 17, 2022 19:24 - 31 minutes - 43.2 MBIn this episode, US editor Will Caiger-Smith talks to Dave Preston of AGL about the expanding CLO investor base, leveraged loan underwriting standards, and ESG.
Saipem, "No Worse" Ratio Tests, ESG Ratchets and Step-downs
February 11, 2022 10:13 - 25 minutes - 46.9 MBThe 9fin content and analytics team wrap up the week's HY and leveraged loans deals, head of covenant research Caitlin Carey discusses "no worse" ratio tests, credit analysts Josh Latham and Alex Manolopoulos talk the good, the bad and the ugly of ESG margin ratchets and coupon step-downs and editor Chris Haffenden gives us the latest on Saipem. 0:00 - Intro 00:53 - Levfin wrap 01:31 - Covenant close-up: "No worse" ratio tests 11:06 - Please raise responsibly: ESG ratchets and step...
US Edition — Roberta Goss, Pretium Partners
February 03, 2022 16:41 - 29 minutes - 40.6 MBA new series of guests interviews recorded at 9fin’s New York headquarters by US editor Will Caiger-Smith. In this debut episode, we discuss equity volatility, the rush to floating rate assets, and the recent Bausch Health refi.
The rush to floating rate assets, with Roberta Goss of Pretium Partners
February 03, 2022 16:41 - 29 minutes - 40.6 MBA new series of guests interviews recorded at 9fin’s New York headquarters by US editor Will Caiger-Smith. In this debut episode, we discuss equity volatility, the rush to floating rate assets, and the recent Bausch Health refi.
US edition - Q&A with Pretium's Roberta Goss
February 03, 2022 16:41 - 29 minutes - 40.6 MBA new series of guests interviews recorded at 9fin’s New York headquarters by US editor Will Caiger-Smith. In this debut episode, we discuss equity volatility, the rush to floating rate assets, and the recent Bausch Health refi.
A Rising Tide Lifts the Loan Market, Liens Covenants, SLB Update
January 20, 2022 17:44 - 26 minutes - 49.4 MBThe 9fin content and analytics team wrap up the week's HY and leveraged loans deals, head of covenant research Caitlin Carey discusses liens covenants touching on permitted liens vs permitted collateral liens and ESG analyst Jack David gives us an update on sustainability-linked bonds and loans for this January. For his Cloud 9fin debut US editor Will Caiger-Smith gives us a look into his market and discusses the driving forces behind a continuing shift towards loans.
Review, preview 2021/2022
January 07, 2022 13:08 - 26 minutes - 48.1 MBIn this special episode the 9fin content and analytics team looks back on a blockbuster year and ahead to slightly more troubled waters. Credit analyst Ben Hoskin and loans reporter Katharine Hidalgo look at bonds and loans, editor Chris Haffenden takes us through the restructuring and distressed debt spaces, senior reporter Owen Sanderson looks at CLOs and ESG analyst Jack David reviews the ESG field.
A Happy Levfin Quizmas
December 10, 2021 18:04 - 15 minutes - 29 MBCEO Steven Hunter and loans reporter Michal Skýpala face off against editor Chris Haffenden and senior reporter Owen Sanderson in our first annual leveraged finance Christmas quiz. The teams will answer questions on loans, bonds and ESG in a quiz that includes some impossible questions, some useless questions and maybe one or two interesting ones!
Restructuring change in France and the UK
November 26, 2021 18:29 - 35 minutes - 65.6 MBWeil, Gotshal & Manges partners Andrew Wilkinson and Anne-Sophie Noury talk French restructuring changes and reflect on the state of the UK regime with editor Chris Haffenden in this special extended episode of Cloud 9fin.
Earnings, Ratio Numerators, COP26
November 12, 2021 09:38 - 24 minutes - 44.4 MBThe 9fin content and analytics team wrap up the week's HY and leveraged loans deals, head of covenant research Caitlin Carey discusses ratio numerators, ESG analyst Jack David gives us his take on COP26 and Ben Hoskin and Chris Haffenden cover off the early results of earnings calls.
Market Softening, ESG Ratchet Innovation, Bespoke CoC provision
October 29, 2021 11:39 - 22 minutes - 41 MBThe 9fin content and analytics team wrap up the week's HY and leveraged loans deals, legal analyst Alice Holian discusses a bespoke change of control provision and credit analysts Alex Manolopoulos and Josh Latham discuss innovation in sustainability-linked bond and loans. CEO Steven Hunter, editor Chris Haffenden and loans reporter Laura Thompson also discuss why the market has softened slightly in the last couple of weeks.
Bonus episode: Aggregate
October 21, 2021 18:03 - 18 minutes - 33 MB9fin editor Chris Haffenden discusses the current state of Adler shareholder Aggregate's bonds in the wake of a Viceroy report on Adler.
Median Kliniken, CNI build-up baskets, Graanul Invest
October 14, 2021 15:37 - 26 minutes - 49 MBThe 9fin content and analytics team wrap up the week's HY and leveraged loans deals, senior legal analyst Caitlin Carey discusses CNI build-up baskets, ESG analyst gives an overview of the ESG space with a focus on Graanul Invest and loans reporters Laura Thompson and Michal Skypala talk Median Kliniken, and discuss if ESG risk is now considered on a par with credit risk.
Bonus episode: Adler
October 08, 2021 17:06 - 21 minutes - 39.2 MBCEO Steven Hunter and editor Chris Haffenden discuss Viceroy's recent report on Adler.
Notes from Global ABS, Pandemic-Proof Add-Backs, SLB KPIs
September 30, 2021 17:32 - 20 minutes - 38.4 MBThe 9fin content and analytics team wrap up the week's HY and leveraged loans deals, senior legal analyst Caitlin Carey discusses pandemic-proof EBITDA add-backs, credit analyst Josh Latham discusses sustainability-linked bond KPIs with a focus on Europcar and editor Chris Haffenden and senior reporter Owen Sanderson talk securitisation trends and take-aways from Global ABS.
Pipeline (Morrisons), Sustainability Call Premium, Pasubio
September 17, 2021 14:46 - 22 minutes - 42.1 MBThe 9fin content and analytics team wrap up the week's HY and leveraged loans deals, senior legal analyst Caitlin Carey takes us through the sustainability call premium seen on Itelyum's recent high-yield issuance, credit analyst Alex Manolopoulos discusses ESG concerns around Pasubio and CEO Steven Hunter and senior reporter Owen Sanderson talk pipeline, the art of the possible in today's market and Morrisons.
Amigo Loans, Portability, Shipping
September 03, 2021 16:34 - 21 minutes - 39.5 MBThe 9fin content and analytics team wrap up the week's HY and leveraged loans deals, senior legal analyst Caitlin Carey explains portability, ESG analyst Jack David does a deep dive into the effects of shipping on climate change and CEO Steven Hunter and editor Chris Haffenden discuss the recent events of the court proceedings involving Amigo Loans.
United Group, Specified Asset Dispositions, Rubbish ESG
August 20, 2021 16:22 - 26 minutes - 47.6 MBThe 9fin content and analytics team wrap up the week's HY and leveraged loans deals, senior legal analyst Caitlin Carey takes us through the specified asset dispositions concept, ESG analyst Jack David takes on former chief investment officer for sustainable investing at BlackRock Tariq Fancy after he told The Guardian green investing "is definitely not going to work" and head of research and analytics Huw Simpson and credit analyst Ben Hoskin discuss United Group latest acquisition...
Intralot, Fit for 55, Available Amount Concept
August 06, 2021 13:59 - 24 minutes - 44.1 MBThe 9fin content and analytics team wrap up the week's HY and leveraged loans deals, senior legal analyst Caitlin Carey takes us through the available amount concept, ESG analyst Jack David discusses Fit for 55 and editor Chris Haffenden and Caitlin Carey run through the recent events surrounding Intralot.