Debtwire Radio

A Florida-based senior living project with a technical default and a chunk of subordinate bonds that are valued higher than the senior debt illustrates the sometimes-opaque nature of municipal bond pricing, several market participants say. Debtwire Municipals’ Maria Amante, Caitlin Devitt and Kathie O’Donnell discuss the specifics of this trend. In our latest research report, Debtwire Municipals evaluates near-term prospects for the New York Metropolitan Transportation Authority’s (MTA’s) transportation revenue bonds and the Triborough Bridge and Tunnel Authority’s (TBTA’s) general revenue bonds. These are the two most important financing vehicles for the MTA, with USD 30.2bn and USD 8.7bn of debt outstanding, respectively. Debtwire Municipals Head of Research Greg Clark breaks it all down. Yong Lim, the Debtwire Municipals desk editor, is the moderator of the podcast. The Muni Lowdown is a weekly podcast recapping the previous week's significant news developments in the municipal bond market. For commen

Debtwire Middle Market reporters Bill Weisbrod and Catherine Perloff spoke with Todd Koretzky a partner in Allen & Overy’s leveraged finance group about how direct lending deals have changed from the frothy pre-pandemic market and how they’ve evolved as the virus’s economic impact comes into sharper relief. They also discuss how the downturn will affect firms’ individual strategies and the private credit industry as a whole.

VIDEOCAST: Law in Motion on the new UK restructuring plan by Debtwire Radio

For this episode, the team hosts Gregory Michaud, head of real estate finance for Voya Investment Management. We discuss not only where insurance money is being deployed in commercial real estate but drill down to the origins of some opportunities, like financings stranded when the CMBS market seized up in March.

American Airlines brought to market a USD 360m deal in tax-exempt airport facility revenue bonds that was oversubscribed from USD 100m at 5.5-5.6% yield, amid the most challenging times for the airline industry in recent memory, to finance a terminal expansion at New York’s John F. Kennedy (JFK) airport. Debtwire Municipals Chuck Stanley discusses the bond sale. Colleges and universities are unlikely to file for bankruptcy anytime soon as a result of the coronavirus (COVID-19) pandemic – if anything, out-of-court restructurings are a far more likely outcome for some institutions, presenters commented during a webinar presented by Orrick and The Bond Buyer. Debtwire's Maria Amante talks about what she heard during the webinar. Yong Lim, the Debtwire Municipals desk editor, is the moderator of the podcast. The Muni Lowdown is a weekly podcast recapping the previous week's significant news developments in the municipal bond market. For comments or questions contact paul.greaves@acuris.com

Debtwire senior legal analyst Richard Goldman sits down with Morrison & Foerster’s Benoit Lavigne, Matthew Dunlap and John Burge to discuss potential covenant changes to European HY debt documents in response to the coronavirus pandemic.

The City of Chicago faces a USD 1.5bn gap through FY21 and is pinning its hopes on the federal government to plug the shortfall, top finance officials said. Debtwire Municipals Caitlin Devitt discusses the city's precarious situation. JEA filed a lawsuit against former CEO Aaron Zahn alleging he made false and misleading statements that marred the utility in a public scandal, according to court documents. Debtwire's Patrick Ferguson gives us the latest on the ongoing saga. Yong Lim, the Debtwire Municipals desk editor, is the moderator of the podcast. The Muni Lowdown is a weekly podcast recapping the previous week's significant news developments in the municipal bond market. For comments or questions contact paul.greaves@acuris.com

Debtwire senior legal analyst Richard Goldman sits down with Morrison & Foerster finance attorneys Caroline Jury, Benoit Lavigne and John Burge to discuss documentation trends in the European leveraged loan market as a result of COVID-19.

For this episode, host Al Yoon and Debtwire ABS Managing Editor John Wilen host SFA CEO Michael Bright, who lays down his priorities for keeping the ABS markets functioning, with integrity. We provide an update on the phase-out of Libor.

Debtwire senior legal analyst Richard Goldman sits down with Andrew Sagor, Partner and Co-Chair of Baker McKenzie’s North America leveraged finance practice, to discuss liquidity enhancement alternatives for issuers in the COVID-19 era.

New York’s Metropolitan Transportation Authority (MTA) has seen its various revenue streams eviscerated by the new coronavirus (COVID-19) outbreak, but bondholders tell Debtwire Municipals that the essential nature of the authority’s services to the New York City region make it too important to fail, even for a State of New York that is itself stretched to the limits by the crisis. Chuck Stanley discusses the nation’s largest public transit authority. Massachusetts hospitals are showing risk factors for coronavirus (COVID-19) related financial distress, according to a Debtwire Municipals’ analysis of pre-pandemic operating results. Simone Baribeau looks at the financial factors in this quarter's Hospital Watch report. Yong Lim, the Debtwire Municipals desk editor, is the moderator of the podcast. The Muni Lowdown is a weekly podcast recapping the previous week's significant news developments in the municipal bond market. For comments or questions contact paul.greaves@acuris.com

The Puerto Rico Financial Oversight and Management Board (FOMB) approved its version of the commonwealth fiscal plan, requiring the government to implement structural reforms to grow the economy as it puts a one-year pause on government right-sizing, but questions about the fate of the debt restructuring were left unanswered. Debtwire Municipals Eva Llorens discusses the implications. With very limited price discovery, high yield muni bond investors wait. The market is still adjusting. Debtwire's Kathie O'Donnell explores the situation. Yong Lim, the Debtwire Municipals desk editor, is the moderator of the podcast. The Muni Lowdown is a weekly podcast recapping the previous week's significant news developments in the municipal bond market. For comments or questions contact paul.greaves@acuris.com

For this episode, the team hosts Scott Buchta, managing director and the head of fixed income strategy at Brean Capital. Buchta provides an update on investment activity in CMBS and RMBS, as well as discusses forbearance trends in both sectors.

Debtwire senior legal analyst Richard Goldman sits down with O’Melveny & Myers restructuring partners Nancy Mitchell and Daniel Shamah to discuss current issues concerning whether debtors qualify for the Paycheck Protection Program.

US state agencies are ready to build infrastructure once the economy normalizes again after the coronavirus (COVID-19) pandemic, but many are likely to veer away from light rails and toll roads as the foundation of their plans. When procurements are initiated again, sources say it will make sense to invite private financing via a public-private partnerships (P3) to bridge the gap in funding and it is availability-based payment structures that may be necessary to mitigate some of the revenue loss for the private sector during the pandemic. Inframation's Abigail Miller and Debtwire's Caitlin Devitt discuss this financing vehicle. Fairfield, Alabama filed for bankruptcy protection, becoming the second entity to file for Chapter 9 so far this year. Debtwire Municipals Simone Baribeau looks at the city in Jefferson County. Yong Lim, the Debtwire Municipals desk editor, is the moderator of the podcast. The Muni Lowdown is a weekly podcast recapping the previous week's significant news developments in the municip

Midtown Campus Properties LLC, the owner of a Gainesville, Florida student housing project under construction near the University of Florida, filed for Chapter 11 bankruptcy protection on 8 May in the US Bankruptcy Court for the Southern District of Florida. Debtwire’s Maria Amante discusses the fallout. The Federal Reserve is establishing a USD 500bn municipal liquidity facility to bolster state and local cash flow during the new coronavirus (COVID-19) pandemic. Debtwire’s Caitlin Devitt explains the Fed’s motive on this. Yong Lim, the Debtwire Municipals desk editor, is the moderator of the podcast. The Muni Lowdown is a weekly podcast recapping the previous week's significant news developments in the municipal bond market. For comments or questions contact paul.greaves@acuris.com

Debtwire senior legal analyst Richard Goldman sits down with Kirkland & Ellis restructuring partner Jon Henes to discuss restructuring trends in the COVID-19 era, as well as his push for Congress to codify the “one-day prepack”.

For this episode of ABS in Mind, the team hosts Dave Goodson, head of securitized products at Voya Investment Management. Goodson provides an overview on attractive investment opportunities he sees in securitized products, specifically CMBS, RMBS and consumer ABS.

An interview with GCA Altium’s Johannes Schmittat, focusing on the liquidity needs of German mid-market companies in the coronavirus crisis and the availability of state-backed emergency loans.

Houston’s economy has been hit by a rout in oil and natural gas prices, as employment levels in the energy sector are poised to sink. Debtwire Municipals reporter Patrick Ferguson looks at this city in Texas. Yong Lim, the Debtwire Municipals desk editor, is the moderator of the podcast. The Muni Lowdown is a weekly podcast recapping the previous week's significant news developments in the municipal bond market. For comments or questions contact paul.greaves@acuris.com Puerto Rico’s 78 municipalities will be left without cash reserves from May to July and 15 smaller cities will lose 25% of their budget next year because of a court’s invalidation of Act 29 of 2019, a law that required the central government to pay the cities’ share of pension and health insurance payments. Debtwire's Eva Llorens discusses the ramifications.