Elliott Investment Management LP and Strategic Value Partners have recently bought debt of Braskem SA, the Brazilian petrochemical producer rushing to get creditors to agree to a restructuring plan, according to people familiar with the matter.
Elliott Investment Management LP and Strategic Value Partners have recently bought debt of Braskem SA, the Brazilian petrochemical producer rushing to get creditors to agree to a restructuring plan, according to people familiar with the matter.
The Braskem petrochemical plant in Duque de Caxias, Rio de Janeiro state, Brazil. Photographer: Dado Galdieri/Bloomberg
Just a year before the New York Knicks rode a double-digit winning streak to the NBA Finals, the company that broadcasts its games was thrown a lifeline to avoid a potential bankruptcy filing. Now, the lenders who backed that restructuring are likely cheering on the team’s success.
Just a year before the New York Knicks rode a double-digit winning streak to the NBA Finals, the company that broadcasts its games was thrown a lifeline to avoid a potential bankruptcy filing. Now, the lenders who backed that restructuring are likely cheering on the team’s success.
Jalen Brunson #11 of the New York Knicks dribbles the ball against Dennis Schroder #8 of the Cleveland Cavaliers during the fourth quarter in Game Two of the NBA Eastern Conference Finals at Madison Square Garden on May 21, 2026 in New York City. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.
Two major financial firms have clashed over the restructuring of Eagle Football, the group that holds stakes in a number of football teams including the storied French club Olympique Lyonnais.
Two major financial firms have clashed over the restructuring of Eagle Football, the group that holds stakes in a number of football teams including the storied French club Olympique Lyonnais.
Spanish utility Cox ABG Group SA took a bridge loan to help fund a $4.2 billion asset acquisition in Mexico and placed shares as collateral.
A wind turbine at the Puylobo wind farm, operated by Iberdrola SA, in Zaragoza, Spain, on Tuesday, Feb. 25, 2025. Spanish energy giant Iberdrola SA posted a slump in fourth-quarter earnings, denting its performance in a year marked by soaring profits from its expanding power networks business.
The US government tapped law firm Kirkland & Ellis to advise on a possible rescue deal for Spirit Aviation Holdings Inc., according to people familiar with the matter.
The US government tapped law firm Kirkland & Ellis to advise on a possible rescue deal for Spirit Aviation Holdings Inc., according to people familiar with the matter.
A Spirit Airlines airplane at Fort Lauderdale-Hollywood International Airport.
French payments firm Ingenico, backed by Apollo Global Management, has started debt talks with creditors as it struggles to keep up with its interest bill.
French payments firm Ingenico, backed by Apollo Global Management, has started debt talks with creditors as it struggles to keep up with its interest bill.
Ken Griffin’s Citadel has been intertwined in Spirit Aviation Holdings Inc.’s bankruptcies over the past two years. It even parted ways earlier this year with a portfolio manager after a series of losses that included a soured bet on the distressed budget carrier.
Ken Griffin’s Citadel has been intertwined in Spirit Aviation Holdings Inc.’s bankruptcies over the past two years. It even parted ways earlier this year with a portfolio manager after a series of losses that included a soured bet on the distressed budget carrier.
Cineplex Inc., Canada’s largest movie theater chain, is shopping itself to potential buyers in a bid to combine with a rival.
A customer buys concessions inside a Cineplex Cinemas movie theater in Toronto, Ontario, Canada on Monday, Feb. 3, 2020. Britain's Cineworld Group Plc is on track to become North America's biggest operator of movie theaters with its plan to buy Canada's Cineplex Inc. for C$2.15 billion ($1.64 billion).
Sotheby’s is seizing a window of opportunity to refinance debt due next year, before any disruptions from the US-Iran negotiations can derail capital-raising efforts.
Sotheby’s is seizing a window of opportunity to refinance debt due next year, before any disruptions from the US-Iran negotiations can derail capital-raising efforts.
Bank of America Corp. and Citigroup Inc. have sold down a multi-billion dollar bridge loan backing Paramount Skydance Corp.’s takeover of Warner Bros. Discovery Inc. to a wider group of banks, a key step in one of the biggest M&A financings of the year.
Bank of America Corp. and Citigroup Inc. have sold down a multi-billion dollar bridge loan backing Paramount Skydance Corp.’s takeover of Warner Bros. Discovery Inc. to a wider group of banks, a key step in one of the biggest M&A financings of the year.
Deutsche Bank AG’s US distressed products group more than doubled its net profits in the first quarter, partly driven by shorting a basket of software companies debts, according to people familiar with the matter.
Deutsche Bank AG’s US distressed products group more than doubled its net profits in the first quarter, partly driven by shorting a basket of software companies debts, according to people familiar with the matter.
The giant multistrategy hedge fund Citadel parted ways with credit portfolio manager Zachariah Barratt after a series of losses, including a soured bet on Spirit Aviation Holdings Inc., according to a person familiar with the matter.
The giant multistrategy hedge fund Citadel parted ways with credit portfolio manager Zachariah Barratt after a series of losses, including a soured bet on Spirit Aviation Holdings Inc., according to a person familiar with the matter.
Dozens of hedge-fund and oil-company executives are gathering this week in Caracas, where Venezuela’s acting president, Delcy Rodriguez, signaled an interest in re-opening the nation’s economy to foreign businesses, according to people familiar with the matter.
Dozens of hedge-fund and oil-company executives are gathering this week in Caracas, where Venezuela’s acting president, Delcy Rodriguez, signaled an interest in re-opening the nation’s economy to foreign businesses, according to people familiar with the matter.
The Simon Bolivar Towers, center, and National Assembly building, center left, in Caracas.
Dozens of hedge-fund and oil-company executives are gathering this week in Caracas, where Venezuela’s acting president, Delcy Rodriguez, signaled an interest in re-opening the nation’s economy to foreign businesses, according to people familiar with the matter.
Dozens of hedge-fund and oil-company executives are gathering this week in Caracas, where Venezuela’s acting president, Delcy Rodriguez, signaled an interest in re-opening the nation’s economy to foreign businesses, according to people familiar with the matter.
The Simon Bolivar Towers, center, and National Assembly building, center left, in Caracas.
AMC Entertainment Holdings Inc. turned to an existing creditor to refinance debt after turbulence in public markets derailed a planned bond and loan sale — though the deal includes incentives to bring it back to investors before long.
AMC Entertainment Holdings Inc. turned to an existing creditor to refinance debt after turbulence in public markets derailed a planned bond and loan sale — though the deal includes incentives to bring it back to investors before long.
An AMC movie theater in New York, US, on Monday, Feb. 5, 2024. AMC Entertainment Holdings Inc. is scheduled to release earnings figures on February 28.
A group of investors holding a majority of Kennedy-Wilson Inc. bonds plan to skip the company’s debt exchange offer and instead seek a cash payment, according to people familiar with the matter.
A group of investors holding a majority of Kennedy-Wilson Inc. bonds plan to skip the company’s debt exchange offer and instead seek a cash payment, according to people familiar with the matter.
William McMorrow, chairman and chief executive officer of Kennedy-Wilson Holdings Inc., speaks at the annual Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, April 29, 2013. The conference brings together hundreds of chief executive officers, senior government officials and leading figures in the global capital markets for discussions on social, political and economic challenges.
Mexico’s Braskem Idesa SAPI is in talks with creditors for finance that would fund the company through a potential Chapter 11 bankruptcy proceeding in the US, according to people familiar with the matter.
Mexico’s Braskem Idesa SAPI is in talks with creditors for finance that would fund the company through a potential Chapter 11 bankruptcy proceeding in the US, according to people familiar with the matter.
Water vapor is released from a tower during construction at the Etileno XXI ethylene-polyethylene plant in this aerial photo taken above Coatzacoalcos, Mexico, on Thursday, Nov. 12, 2015. The facility, a joint project between the Brazilian company Braskem SA and Mexico's Grupo Idesa SA, plans to begin production by year-end. Photographer: Susana Gonzalez/
At least five high-yield credit analysts and traders have left Royal Bank of Canada in recent weeks, with some joining rival firms after the bank notched losses linked to the collapse of First Brands Group, according to people familiar with the matter.
At least five high-yield credit analysts and traders have left Royal Bank of Canada in recent weeks, with some joining rival firms after the bank notched losses linked to the collapse of First Brands Group, according to people familiar with the matter.
Optimum Communications Inc. said a top law firm’s withdrawal from representing it under pressure from Apollo Global Management, Ares Management, Oaktree Capital Management and others showed that they were participating in a cartel against it.
Optimum Communications Inc. said a top law firm’s withdrawal from representing it under pressure from Apollo Global Management, Ares Management, Oaktree Capital Management and others showed that they were participating in a cartel against it.
Signage on the building that houses Kirkland & Ellis LLP law firm in Washington, DC, US, on Monday, April 21, 2025. The agreement between the Trump administration and five leading law firms is likely to further shake a legal profession in upheaval as the administration has threatened or implemented executive orders cutting off their lawyers’ access to security clearances and government buildings, often in retribution for perceived political slights.
For the better part of 15 years at law firm Kirkland & Ellis, David Nemecek made a career out of exploiting loose lending agreements to perfect what would become a well-worn dance in the world of distressed corporate debt: Craft a debt overhaul too good for one set of a company’s creditors to pass up while leaving other creditors with scraps and buying precious time for the company’s private equity owners to avoid losses.
For the better part of 15 years at law firm Kirkland & Ellis, David Nemecek made a career out of exploiting loose lending agreements to perfect what would become a well-worn dance in the world of distressed corporate debt: Craft a debt overhaul too good for one set of a company’s creditors to pass up while leaving other creditors with scraps and buying precious time for the company’s private equity owners to avoid losses.
David Nemecek, former Kirkland partner, during the Bloomberg Global Credit Forum in Los Angeles last June
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