Billionaire David Einhorn’s throwing a 30th anniversary party for his hedge fund this weekend. On the invite, he says he wants the “ladies” in “sexy party clothes”. Come again?
My first for @FTAlphaville: https://t.co/EFuLB6o9yv
Situation so bad that First Brands' DIP is trading at 90 cents
> DIPs are super-senior bankruptcy financing
> First in repayment priority
> Supposed to be low-risk
When a DIP trades below par, it means even the safest loan in the capital structure is impaired
The existing 1L TL? ~7.5 cents!
NEW: Altice USA says cooperation agreement formed by Apollo, Ares, Blackrock, Oaktree et al, is an antitrust violation and takes shot at advisers behind them:
https://t.co/O0vPXtiqXe Altice USA accuses creditors of forming ‘illegal cartel’
“Some in our market are pushing aggressively to organize groups very early on (self-interested reasons to secure a mandate)… an unfortunate path, triggering unnecessary noise and activity around names, causing negative impacts for businesses”
Who is this referencing?