Decalia on the End of Easy Financing and Mispriced Debt

Decalia features commentary from Ironshield Capital Management’s David Nazar on how the end of the easy financing decade is creating opportunities in mispriced debt across European credit. Nazar notes that higher funding costs and tighter liquidity are exposing weaker balance sheets while creating selective entry points for disciplined investors.

The piece highlights growing dispersion across issuers as refinancing walls approach and covenant-lite structures are tested. In this environment, granular security selection, active engagement with capital structures and disciplined downside analysis become increasingly important. Mispricings often emerge where complexity, legal positioning or liquidity constraints deter broader participation.

For related coverage on this theme, see Citywire Selector. To learn more about our investment approach in this area, visit Distressed and Stressed Credit.

You can read the full Decalia article here.