Three Debt-for-Equity Swaps Cap a Bad Week for Private Credit
Netceed, Bonhams, Dainese were taken over by private credit lenders last week
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Welcome to The Brink. We’re Giulia Morpurgo and Luca Casiraghi, reporters in London and Milan, where we’ve been following a spate of debt-for-equity swaps in the private credit industry. We also have news on Digicel, Argentina, Venezuela and Organon. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net
It’s been a bruising week for Europe’s direct lenders. In just a few days, lenders moved to seize control of three companies across the region, a stark reminder of the risks lurking in the $1.7 trillion private credit industry.