Reorg Blog

Reorg was delighted to bring leveraged finance and restructuring professionals together again in London at Claridge's on November 3. Mario Oliviero welcomed guests before an exciting leveraged finance panel. Beatrice Mavroleon moderated an expert panel 'Double-Digit Yields - Is Primary the New Distressed?', including Tim Ayles from Rothschild & Co, Touboul Marc from Bain Capital, Robbie Harris from HSBC, and Jerome Ingenhoff from Alcentra. Primary markets remain shut for all but tried and tested repeat issuers, and that is unlikely to change anytime soon, the panelists agreed. It will take time for the market to fully stabilize, and for banks to start underwriting debt again under new conditions, which means it will be at least the first or second...

NEW YORK, Nov. 9, 2022 /PRNewswire/ -- Reorg, a global provider of financial and legal intelligence and data, announced today that it has agreed to acquire FinDox, a leading document, compliance and data management provider."As part of our global growth strategy across a variety of credit verticals, Reorg continues to invest in solutions to better serve our customer base. We're excited to bring the FinDox team into Reorg to enhance our overall data and workflow solutions for leveraged finance and private market investors in the Americas and Europe," said Kent Collier, founder and CEO of Reorg. "Adding FinDox's data management...

China real estate high-yield bonds continue to show little cause for optimism. Greenland Holdings became the latest developer to launch a consent solicitation for all its outstanding offshore USD notes. In a now familiar pattern, the company had only recently reassured investors of its ability to make payments. The consent solicitation came less than five months after Greenland’s last such exercise, in June, for one series of notes. Its repeated attempt to amend and extend may be an indication that even state-controlled property companies aren’t immune to default. The situation may become more worrisome as the Chinese saying of “保内弃外”...

Reorg's editorial staff (reporters, financial, and legal analysts) produce a podcast series from New York and London which recaps the week, previews of what's to come, interviews with experts and deep dives on topical credit situations. Americas Municipals by Reorg provides timely, objective and actionable intelligence covering higher yielding and liquid municipal issuers such as the Metropolitan Transportation Authority, Tower Health, and Puerto Rico Electric Power Authority [PREPA]. Our municipal debt coverage focuses on governmental news, source-driven reporting and legal and financial information and analysis that inform an issue’s credit support and issuers’ liquidity, ability to service debt and whether...

Throughout the year, Reorg hosts webinars bringing together industry professionals to discuss themes in the performing, distressed, restructuring and post-reorg credit markets. View a selection from our EMEA Core Credit team here. Houst RP Binds Dissenting HMRC - Where Next for SME Restructuring Plans? Reorg’s Shan Qureshi hosted a webinar covering the first use of the Part 26A Restructuring Plan in the SME market by Houst Ltd. with the advisors on the deal. The panel discussed “cross-class cramdown” with respect to the U.K. tax authority and explored the interaction between the allocation of a “restructuring surplus” and the “relevant alternative”...

Our Americas Municipals team publishes coverage of higher-yield and unrated municipal borrowers, as well as broader trends in the municipal bonds market and litigation that could impact the credit quality of state and local government obligors, enterprises and nonprofit corporations. Coverage focuses on source-driven reporting and regulatory disclosures, as well as analysis of legal documents and financial statements. This week, in an Americas Municipals Industry Update the team looks at a study from the Municipal Securities Rulemaking Board (MSRB) on the impact of the COVID-19 crisis on competitive and negotiated offerings in the municipal bonds market. "The total number of...