European bond investors: your restricted payment builder baskets are under threat! But also, you’re probably better protected against being J.Screwed than you were in the past.

Those are just two insights from 9fin’s European High Yield Bonds Covenants Report, which provides a deep dive on the state of high yield bond covenants, based on documentation from last year.

In this week’s episode of Cloud 9fin, our host Jennifer Munnings digs into the report’s findings with our senior legal consultant Chris Osborne, who co-authored the report with Alice Holian.

They also discuss our recent piece about EG Group’s recent dividend blockers, which you can read here.