Cloud 9fin

In the credit markets, it’s important practitioners get their fax straight. No, you didn’t read that wrong — even in 2025, people still use fax machines to transmit some loans data.

In our latest Cloud 9fin episode, Chase Collum, head of podcasts, and private credit analyst Devin McGinley, sit down with John Smullen, product manager at FIS. They chat about how global data trends are shaping strategies in the leveraged finance world as private credit CLOs and direct lending gain ground.

This episode is part of a three-part series we’ll publish in partnership with FIS on Cloud 9fin, so look out for our next episode, coming next Thursday! Have any feedback for us? Send us a note at [email protected].

In this episode of Jane’s LME Addiction, our head of LME coverage Jane Komsky brings in global chair of Gibson Dunn’s restructuring group, Scott Greenberg, to discuss the evolution of cooperation agreements within liability management exercises. They discuss the different types of co-ops, why co-ops have become expected in US deals, their spread to the EU, and the validity of antitrust arguments.

Find all our coverage on co-ops at 9fin.com.

Have any feedback on the podcast? Send us a note at [email protected] — thanks for listening!

Three media companies, in vaguely the same vicinity, in fair debt markets where we lay our scene — where ancient business models encounter new scrutiny, and AI generates images you can’t unsee…

Valentine’s Day has been and gone, so why on earth are we besmirching Romeo and Juliet with terrible puns? You should listen to the episode for the full picture, but basically we’re discussing three recent debt transactions from X/Twitter, Snap, and Getty Images.

These deals might not seem immediately connected, but there’s a thread running through all three. In an age of political upheaval and rapid technological advancement, what do they tell us about the future of media? William Hoffman, David Bell and Will Caiger-Smith are here to discuss, and to crowdsource ideas for sponsored 9fin Snapchat filters.

Want to share feedback on this episode? Send us a note at [email protected].

In the private equity world, continuation vehicles have been a bit of a blockbuster, so can the structure's success transfer to private credit?

We have already seen BlackRock's $1.3bn continuation vehicle last year, and some market participants are expecting to see even more in 2025. On the other side however, this might not be as straight forward as in the PE world, and there is a growing pool of skeptics.

In this episode of Cloud 9fin, senior private credit reporter Synne Johnsson sits down with private credit reporter Jemima Denham, to discuss all things private credit continuation vehicles -- Why are they the current talk of the town? What are the challenges? And will they eventually take off?

Have a listen to hear this discussion on continuation vehicles in the private credit market. If you have any feedback for us, send us a note at [email protected]. Thanks for listening.

We talk a lot about leverage at the 9fin office (it’s kind of the story behind our company name, in case you were wondering) so it should come as no surprise that we think it’s interesting. But in the world of Significant Risk Transfer, it’s especially fascinating — and controversial.

You may have caught the story that Celeste Tamers, part of our growing asset-based finance team, broke last week about Deutsche Bank pulling back from offering repo financing on SRT trades.

In this episode of Cloud 9fin, Celeste and our asset-based finance editor Owen Sanderson pick that story apart and use it to explore the history of SRT, to help listeners understand why regulators are raising their eyebrows at the recent growth of this important market.

Any feedback on this episode? Email us at [email protected].

Long live liability management.

In this episode of our new show Jane’s LME Addiction, our head of LME coverage Jane Komsky brings in Latham & Watkins partner George Klidonas and C Street founder and CEO Jon Henes, to discuss the Better Health transaction and its implications for future LMEs.

Also under discussion: how liability management has taken off as an industry, how law firms and advisors are adapting to this boom in business, and the creative moves market participants are making to ensure the LME space lives a lengthy and healthy life.

Listeners might notice a bit of background noise because this episode is also recorded in video format! Find it on YouTube here! Have any feedback on the podcast? Send us a note at [email protected] — thanks for listening!

Publicly traded leveraged debt issuers are facing a collective maturity wall of $219 billion in the coming years. But unlike the Chiefs' offensive line in the Super Bowl, credit market watchers aren't expecting that wall to collapse.

In this episode of Cloud 9fin, US managing editor Bill Weisbrod sits down with credit analyst Ben Dickerman and leveraged finance reporter Dan Mika about their recent piece looking at how the 2026-27 maturity wall in the US is shaping up.

Among the highlights: how issuers are hanging on to cheap debt costs, how a leveraged finance market starved for new-money deals is giving BB-rated companies plenty of time to refinance, the uncertainties surrounding Trump administration’s economic policies, and how this story was powered by Dan’s love of drum and bass music.

As always, if you have any feedback for us, send us a note at [email protected]

With Super Bowl Sunday upon us, much like over a third of the US, we thought we’d focus on sports.

Private credit has been circling sports for some time as an investment opportunity. Many regulatory changes in the past year and an increasing number of emerging sports leagues have brought it back into view to begin this year.

In this episode of Cloud 9fin, senior reporter Peter Benson sits down with Aaron Kless, managing partner and CIO at Andalusian Credit Partners, to discuss all things private credit and sports.

The discussion topics include the institutionalization of the sports market, how credit works with sports franchises and other areas of the sporting world that are ripe for credit investment.

As always, if you have any feedback for us, send us a note at [email protected]

People love to talk about the battle between banks and private credit firms in leveraged debt markets. And at a high level, it’s true that the dealflow has bounced back and forth between the two over recent years — but markets are a lot more complex than a game of table tennis.

In this episode of Cloud 9fin, Synne Johnsson sits down with Soren Christensen, partner and head of capital markets at Cinven, and Amit Bahri, co-head of European direct lending at Goldman Sachs, to break down how private credit’s role has evolved over the years.

Among the highlights: how sponsors have adapted to embrace private credit, what the return of the BSL market means for direct lender strategies, the attraction of junior PIKs, and predictions for 2025.

As always, if you have any feedback for us, send us a note at [email protected].

The full extent of the damage from this season’s California wildfires is yet to be determined, but one thing that is certain is that some leveraged credits are starting to feel the heat.

In this week’s episode of Cloud 9fin, US managing editor Bill Weisbrod and deputy leveraged finance editor Sasha Padbidri survey the extent of the damage and discuss which industries are among the most impacted.

Find Sasha’s latest report about the wildfires’ impact on leveraged credits here. If you have any feedback or want to get in touch, send us a note at [email protected]. Thanks for listening!