tag:blogger.com,1999:blog-6321089372587128676.post467118581879761378..comments2023-10-17T10:01:00.917-04:00Comments on Distressed Debt Investing: European Distressed Debt MarketUnknownnoreply@blogger.comBlogger9125tag:blogger.com,1999:blog-6321089372587128676.post-924114489340859042011-12-28T08:02:07.577-05:002011-12-28T08:02:07.577-05:00Good blog, don't forget that a lot of European...Good blog, don't forget that a lot of European distressed credit has USD debt outstanding so not the whole world of European distressed is off limits for youAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-52494640099335725342011-10-11T16:07:59.886-04:002011-10-11T16:07:59.886-04:00You hit the spot with the 3 points listed re Europ...You hit the spot with the 3 points listed re European distressed CRE.<br /><br />Some additional thoughts, until now lots of (€zone) lenders managed to escape big losses with pretend and extend approach...German mortgage banks in particular. Furthermore, most of those have set up bad banks and still feel the need to load their balance sheet..<br /><br />I just came across your blog. Great job!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-87445341781609860032011-04-23T07:46:46.913-04:002011-04-23T07:46:46.913-04:00Excellent blog! Keep up the good work.
Do you kn...Excellent blog! Keep up the good work. <br /><br />Do you know of any good bond screeners for Europe? <br /><br />In terms of ideas for distressed debt, I recommend the Cytos Biotech convertible bond - 2.875% of 2012 - CH0029060735 - with a 20% YTM and in a hard currency - Swiss Francs. <br /><br />ciao ciao<br /><br />CarolynCarolynhttp://cocochanel-blog.comnoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-19496729122101168012011-04-12T09:45:51.009-04:002011-04-12T09:45:51.009-04:00In our Team we believe the best opportunities in E...In our Team we believe the best opportunities in European distressed debt are in the small / mid cap segment. This segment historically offers better yields than the large caps segment. Main reasons for that are the lack of liquidity and coverage - large distressed players generally focus on situations where they can put significant amount of capital at work, the liquidity is better but returns are smaller... <br /><br />The small / mid cap segment also provides for opportunities later and longer in the cycle - large distressed situations are addressed first and quickly - you cannot hide a billion dollar default... smaller situations take longer to be dealt with. Commercial banks are the main players in that segment and it take a long time for them to clean their books (first they need to provision, but for that they need to make profit etc..) - capital constraints / regulation is going in the right direction and is forcing banks to deleverage.<br /><br />The refinancing wall will hit small / mid cap corporates much harder than the large caps who have access to refinancing alternatives (HY / equity markets)<br /><br />Only problem with small / mid cap segment is that it is not scaleable - funds are small (you cannot put a lot of capital at work)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-80638378259351719772011-03-15T22:59:07.861-04:002011-03-15T22:59:07.861-04:00Interesting information, I think that it is good t...Interesting information, I think that it is good to know about this. Nice post.private health coverhttp://www.moneytime.com.au/noreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-51822032211224399002011-03-14T14:38:27.339-04:002011-03-14T14:38:27.339-04:00www.aguilacapital.com
distressed debt shop dedica...www.aguilacapital.com<br /><br />distressed debt shop dedicated to Spain and Portugal.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-83328733191644297502011-03-07T11:25:35.756-05:002011-03-07T11:25:35.756-05:00Personally, I think you should focus on dedicated ...Personally, I think you should focus on dedicated european groups instead of american shops with a satellite office. I think you get a more local perspective that isn't influenced by the home office. European distressed is different. You have a spectrum of legal approaches.<br /><br />Suggestions for UK based distressed trading managers:<br />Ian Cash at Alchemy <br />David Nazar at Ironshield<br />Paul de Rome at EQT Credit<br /><br />BTW, keep up the great work! One of the most thoughtful blogs around.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-53335435969805599522011-03-06T20:17:32.832-05:002011-03-06T20:17:32.832-05:00Octavian Advisors runs dedicated distressed money ...Octavian Advisors runs dedicated distressed money exclusively focused outside the US.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6321089372587128676.post-25466149845628015802011-03-06T10:57:27.727-05:002011-03-06T10:57:27.727-05:00Avenue and DK have dedicated Europe funds.Avenue and DK have dedicated Europe funds.Anonymousnoreply@blogger.com