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Europe’s supply chain finance fix feeds hidden debt fears (Reuters)

December 9, 2020 | File Under: , , , , ,

“European companies hit by the coronavirus crisis are increasingly turning to a complex financial tool to pay suppliers, raising investor concerns around “hidden” debt.” – by Abhinav Ramnarayan and Lawrence White

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Sunak warns of ‘economic emergency’ as borrowing hits record £394bn (Financial Times)

November 26, 2020 | File Under: , , , , , ,

“The government’s independent forecaster said the virus was responsible for an 11.3 per cent contraction in the UK economy, the steepest for more than 300 years. It added that output would take a further large hit if ministers fail to negotiate a free trade agreement with the EU before the end of the year.” – […]

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Fragile European Banks Bracing for Covid-Era Distressed Loans (Bloomberg)

October 9, 2020 | File Under: , , , , ,

“Another round of widespread lockdowns, for instance, could add more than $1 trillion in non-performing loans to the pile, according to the European Central Bank, and put the explosive issue of bank bailouts back on the table.” – by Marion Halftermeyer, Alexander Weber and Antonio Vanuzzo

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What Investors With $3.4 Trillion Are Buying During Covid (Bloomberg)

September 23, 2020 | File Under: , ,

“Hotels, pipelines, convenience stores and automaker bonds are among the assets being bought by some of the world’s biggest asset managers as they look for value in a world thrown into turmoil by the coronavirus pandemic.” – by David Ramli, Suzy Waite and Matthew Burgess

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The battle to buy a football league: Private equity contest for Italy’s Serie A (Scoreboard/FT)

July 30, 2020 | File Under: , , , , ,

“The growth plans of the football league’s new president Paolo Dal Pino are attracting bidders over a multibillion-euro deal.” – by Samuel Agini, Murad Ahmed et al.

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Inside Wirecard (FT)

June 28, 2020 | File Under: , , ,

Extensive series detailing Wirecard’s path to insolvency.

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A new credit cycle ushers in fresh class of European NPLs (GlobalCapital)

“Just when it looked as though the European NPL tide was at last beginning to fall, 14 years on from the start of the great financial crisis, a new surge of NPLs is on the horizon.  It’s time to launch the securitization lifeboats.” – by Tom Brown

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First European CLOs Fail Key Test Amid Strain of Pandemic Impact (Bloomberg)

June 23, 2020 | File Under: , , ,

“Cracks have appeared in the defenses of European collateralized loan obligations for the first time since the last financial crisis as portfolios buckle under the strain of the coronavirus pandemic.” – by Sarah Husband

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Arcadia restructuring: who holds the power? (Drapers)

May 9, 2019 | File Under: , , , ,

“The group, owned by fashion retail mogul Sir Philip Green, was expected to announce plans for a CVA last week. However, proceedings have slowed as Arcadia continues to lobby for the requisite approval from 75% of creditors.” – by Grace Whelan

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Navigating Europe in 2019

Themes and Risks Investors in Europe to Consider in 2019

We are nearly 20 years into the new millennium and it is an unrecognizable place compared to when it started.  Lehman is gone, Bear Stearns – gone, Merrill Lynch – acquired, Citigroup is a fraction of its former self.  Blockbuster, Toys R Us, Woolworths are all part of the history books now.  Europe, where we […]

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