At our Miami event in December last year we launched next-generation Debtwire. The first end-to-end platform for Leveraged Capital Markets professionals. Since then, we've been working on improving our capabilities. Last week in Miami, our Chief Content Officer Yana Morris took us on a fascinating journey through the evolution of Debtwire's next generation, using the captivating story of Rite Aid as a guide. This name has been a constant source of focus for our team for the past two years, offering invaluable editorial and data insights through advanced capabilities of our revolutionary platform. Trial next-generation Debtwire today: https://lnkd.in/eRZa5Rzc
Debtwire
Financial Services
New York, NY 21,250 followers
The first end-to-end platform covering the entire dealmaking cycle for leveraged capital markets professionals
About us
With over 30 years of proprietary journalism and data experience, Debtwire is trusted by leveraged capital markets professionals to provide the information they need to make informed decisions, find investment opportunities and originate deals. Debtwire is the industry’s first end-to-end platform covering the entire dealmaking cycle for leveraged capital markets professionals. Across geographies, markets and asset classes, our team of award-winning journalists, former lawyers and skilled research analysts has you covered.
- Website
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http://www.debtwire.com
External link for Debtwire
- Industry
- Financial Services
- Company size
- 201-500 employees
- Headquarters
- New York, NY
- Type
- Privately Held
- Founded
- 2003
- Specialties
- Leveraged finance, Distressed debt, Data, Market-moving news, In-depth research and analysis, Global leveraged credit, Restructuring, Structured finance, Credit research, Court coverage, Legal analysis, Performing credits, Primary issuance, Bankruptcy, Municipal debt, High-yield bonds, and Leveraged loans
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Primary
1345 Sixth Avenue, 50th Floor
New York, NY 10105, US
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10 Queen Street Place
London, England, GB
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25th Floor, The Center
99 Queen’s Road Central
Hong Kong, HK, HK
Employees at Debtwire
Updates
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The agenda (https://lnkd.in/gNgiBN9x) for the Debtwire Forum Asia Pacific is now live. Join the premium event for leveraged capital market professionals and hear from industry leaders on the latest market trends and opportunities in Asian credit. The forum provides editorially driven content through a series of interactive panel discussions, thought-provoking case studies and insightful presentations. You'll have a chance to network with 800+ senior credit professionals including institutional investors, buy-side hedge funds, private credit funds, restructuring specialists and professional advisors from across the region. 👉 Register today to save 20% off the tickets: https://lnkd.in/eq8cXK_S #DebtwireAPAC
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2U Inc. has initiated a financial restructuring through a prepackaged Chapter 11 bankruptcy filing. The company has entered into a Restructuring Support Agreement (RSA) with lenders and noteholders holding about 87% of its debt, aiming to secure USD 110m in new capital, cut its debt by over 50% to around USD 459m, and extend loan maturities by over two years. Our Global Head of Credit Research, Tim Hynes, spoke with Higher Ed Dive to discuss why it was expected that the debt-holders would likely prefer restructuring over liquidation: https://lnkd.in/d_AdE6YR Stay informed with Debtwire as we track this case: https://lnkd.in/dHKnknCQ Not a subscriber? Start your free trial today: https://lnkd.in/ekCjgphN #education #bankruptcy #Chapter11
Last week, EdTech company 2U filed for Chapter 11, with a prepackaged plan of reorganization that will cut its nearly USD 1bn funded debt load by more than half. Debtwire has been following the company for a while, and back in April I spoke with Ben Unglesbee for Higher Ed Dive about our Credit Research on the organization and why it was expected that the debt-holders would likely prefer restructuring over liquidation: https://lnkd.in/e3Zx_x_E With the filing, 2U’s Restructuring Support Agreement allows for $110m of new capital, will reduce debt by 50% to $459m and extend maturities of the revolver and term loans by two years. This restructuring plan should allow the company to move forward in a more productive manner now that it doesn't have to worry about liquidity constraints and upcoming maturities. Moving forward, it can focus on driving profitable business operations. Subscribe to Debtwire to keep up to date with this case and our market analysis and data: https://lnkd.in/emeJHTr6 #education #bankruptcy #Chapter11
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The educational technology company 2U Inc kicked off its Chapter 11 case with a restructuring support agreement (RSA) and reorganization plan through which various secured lenders and unsecured noteholders will receive equity in a reorganized business, dropping 2U’s total debt by more than 50%. 2U filed a Chapter 11 petition last week (25 July) in the US Bankruptcy Court for the Southern District of New York, alongside a plan, disclosure statement and request to access USD 64m in debtor-in-possession (DIP) financing from certain unsecured noteholders. More here: https://lnkd.in/dMXvpkfD
CASE PROFILE: Educational technology company 2U seeks to trim half of USD 1bn debt through prearranged restructuring
https://ionanalytics.com
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Hear from Steven Ruby, Co-Head of Originated Debt at Audax Private Debt, as he shares his expertise on the private credit landscape with Giovanni Amodeo. In this insightful conversation, Ruby discusses: - The evolution of financing products and the rise of sophisticated structures like unitranche direct lending. - The importance of relationships with private equity sponsors and investors in navigating market conditions. - The industry's transformation into a "fundraising machine" and the need for continuous capital raising. - Investor concerns around high interest rates and their impact on legacy portfolios. - And other key insights on private credit markets... Tune into the full conversation here: https://lnkd.in/ejqnT6x3 #IONInfluencers
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Dubai has long been the hotspot for asset managers in the United Arab Emirates, offering an attractive base to raise and deploy capital in the Gulf. But Abu Dhabi’s financial centre, Abu Dhabi Global Market (ADGM), is wooing a growing number of funds in an effort to replicate this success. Last week, news broke that Princeville Capital, which counts Hollywood star Leonardo DiCaprio as an adviser, is set to open an office in the capital. This follows a trend of prominent fund managers choosing Abu Dhabi in recent years, including Brevan Howard and the Dalio Family Office (DFO), among others. More here: https://lnkd.in/eR4Skr45
Abu Dhabi joins Dubai in race to lure asset managers
https://ionanalytics.com
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In another blow to the entertainment sector, Chicken Soup For the Soul Entertainment, which owns DVD rental service Redbox and streaming platform Crackle, has shuttered operations after being granted permission in a hearing on 19 July to convert its bankruptcy case from Chapter 11 to Chapter 7, following the withdrawal of support from its primary lender. CSSE initially filed for Chapter 11 bankruptcy on 28 June due to severe financial challenges caused by lenders' failures to fulfill obligations. These failures hampered CSSE's ability to secure new content and strained relationships with creditors and content providers. The decision to convert to Chapter 7 was reportedly driven by allegations of mismanagement and dysfunction within CSSE, prompting the company's primary lender, HPS Partners LLC, to withdraw from the deal to provide debtor-in-possession (DIP) financing after determining that the likelihood of repayment was virtually non-existent. Now, a group of 11 former employees have filed a lawsuit against the company and its ex-CEO, seeking damages after the termination of approximately 1,000 employees without severance or back pay. Stay up to date with Debtwire as we continue to track financial distress in the media and entertainment sector. Not a subscriber? Trial next-generation Debtwire today: https://lnkd.in/ekCjgphN #entertainment #bankruptcy #Chapter7
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This week, Texas-based home goods retailer Conn’s entered Chapter 11 bankruptcy in a Houston court. This marks the ninth retailer to file for Chapter 11 this year, joining the likes of JOANN Fabric and Crafts, 99 Cents Only Stores, and Express. Conn’s has lined up $25m of new financing to fund its time in Chapter 11 which sets milestones for the case, requiring the company to set a bid deadline no later than September 11th. During this time, the company will seek permission to conduct store closing sales at all of its retail locations, with an October 31st deadline to finish the process. Subscribers can follow this story on Debtwire. If you're not a subscriber start your free trial today: https://lnkd.in/ekCjgphN
Try Debtwire Now
https://info.debtwire.com
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Big Lots is working with investment bank Guggenheim to explore strategic options as the retailer comes under pressure to remain in compliance with financial covenants, said two sources familiar with the matter: https://lnkd.in/ecaJmsM3
Big Lots working with Guggenheim to explore alternatives in bid to stave off liquidation
https://ionanalytics.com
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Welcome to the team Melina Chalkia! Melina joins us from Bloomberg, where she covered the municipal bond market as an intern. Born and raised in Greece, Melina holds a Journalism and International Studies degree from Northwestern University and has experience across multimedia. Her previous beats include credit, politics, and international affairs; she has also worked as a reporter, producer, and newsgatherer with CNN, NBC, and national Greek channels. We're looking forward to the contributions Melina will bring to Debtwire's coverage!
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