A Texas Banker Weighs In on Mergers, Mamdani and Credit Markets
That red light for dealmaking? It's now merely yellow, Rob Holmes says
Tricolor’s collapse shocked everyone, from customers to big Wall Street banks that helped with financing.
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This week brought more evidence of tough times for subprime lenders in Texas. The latest shock involved Dallas-based Renovo Home Partners, which abruptly filed for bankruptcy. That name may not have been known on Wall Street, but one of its creditors is — and Bloomberg reported this week that BlackRock is now calculating that the private debt it extended to the company was worthless.