Non-pro-rata liability management exercises (“LMEs”) have been a widely used tool for distressed companies and sponsors, sometimes to attempt to fix a company’s capital structure and sometimes to buy ...

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Once an arcane corner of the capital markets, liability management exercises (LMEs) have become a mainstream restructuring tool. Of course, LMEs are not available to every borrower — the ability to ...

While European leveraged finance debt prices are being pulled in different directions amid a volatile backdrop, a growing number of names appear simply to be stuck in an unforgiving doom loop. Several ...