In this whitepaper, Ironshield Capital examines the rise of creditor-on-creditor conflict in European credit markets and the restructuring dynamics shaping distressed investment opportunities.
Recent years have seen a rise in complex liability management exercises as lenders and sponsors use legal and structural tools to improve recovery outcomes within distressed capital structures.
In this paper, the Ironshield team reviews the drivers behind these developments and the implications for investors analysing restructurings across European leveraged credit markets.
Part II of this series examines how creditors are responding to these developments, including the growing use of cooperation agreements and other defensive strategies in modern restructurings.
Read Part II: Defence in Creditor-on-Creditor Violence in European Credit →
For further discussion, you can also watch our related webinar hosted by Opalesque with Founder and CIO David Nazar and senior analyst Ishar Sawhney.
