Trading Away

Latest on market deals, credit, restructurings, spreads, and what’s happening on the Street. The week, told straight.

From the desk of @junkbondanalyst

[Trading Away @tradingawayJBA]

Trading Away.

The latest on market deals, credit, restructurings, spreads, and what's happening on the Street. The week, told straight. Welcome aboard.

https://t.co/Em4do4JMGX

[Trading Away @tradingawayJBA]

JetBlue's creditors are working with restructuring bank PJT as the troubled airline's bonds traded down sharply from 85 cents to 40 cents just this week.

The airline is grappling with elevated oil prices and cash burn, which impedes building a more profitable business.

[Trading Away @tradingawayJBA]

Britain's financial watchdog restricted six private credit lenders from taking on new customers or entering new lending deals over concerns about their anti-money laundering controls, per Reuters.

The FCA promised to increase its scrutiny after UK-based MFS collapsed this year.

[Trading Away @tradingawayJBA]

https://t.co/AtGsTjFlHC

[Trading Away @tradingawayJBA]

Hamza Lemssouguer’s Arini is facing continued losses as credit bets have soured, bringing the high flying $22 billion hedge fund its worst performance ever.

Arini is down over 21% year to date, having lost another 7% in just the last three weeks alone.

[Trading Away @tradingawayJBA]

SpaceX is seeking to raise $40 billion in debt to buy Nvidia’s AI chips.

Apollo is expected to lead the financing, with the deal highlighting the seemingly unstoppable sums being poured into AI infrastructure.

[Trading Away @tradingawayJBA]

According to Reuters, direct lenders have more cash than deals. Direct-lending funds raised a record $129 billion in the first nine months of 2026, while Q3 lending fell 28% from a year earlier, and $16.4 billion of loans moved from private credit to the syndicated market.

[Trading Away @tradingawayJBA]

Optimum is reportedly preparing to file for chapter 11 to implement any deal struck with creditors, and a bankruptcy filing is widely expected to cement an eventual restructuring for its $26 billion debt load.

[Trading Away @tradingawayJBA]

JUST IN: Patrick Drahi's Optimum is nearing a debt deal that will hand equity control to creditors.

Apollo, Oaktree, and JPMorgan are expected to strike a deal that will address the $26 billion debt capital structure and resolve ongoing litigation.

[Trading Away @tradingawayJBA]

@FT https://t.co/r1uZAOsI9R

[Trading Away @tradingawayJBA]

Hamza Lemssouguer’s Arini is facing continued losses as credit bets have soured, bringing the high flying $22 billion hedge fund its worst performance ever.

Arini is down over 21% year to date, having lost another 7% in just the last three weeks alone.

[Trading Away @tradingawayJBA]

@junkbondanalyst https://t.co/AtGsTjFlHC

[Trading Away @tradingawayJBA]

@Restructuring__ @junkbondanalyst 👀

[Trading Away @tradingawayJBA]

A combination between SpaceX & Tesla would be the largest corporate transaction ever attempted, and now has Elon Musk's public endorsement.

Such a transaction would likely be announced by the first half of 2027, and look to close with the current administration still in office.

[Trading Away @tradingawayJBA]

JUST IN: Patrick Drahi's Optimum is nearing a debt deal that will hand equity control to creditors.

Apollo, Oaktree, and JPMorgan are expected to strike a deal that will address the $26 billion debt capital structure and resolve ongoing litigation.

[Trading Away @tradingawayJBA]

BREAKING: Despite generating breakneck revenue growth, Anthropic is facing a narrow customer base + uncertain access to computing power ahead of its a mega-IPO.

Anthropic has signaled it could spend $750 billion+ on compute and has recorded a $80+ billion net loss in 1H 2026.

[Trading Away @tradingawayJBA]

Tradeweb agreed to buy electronic credit-trading platform Trumid for about $1.97 billion, mostly with cash on hand, per the company. The deal is targeted to close in the first half of 2027, pending antitrust and FINRA approval.

[Trading Away @tradingawayJBA]

@Restructuring__ @junkbondanalyst Let’s get it 🤝

[Trading Away @tradingawayJBA]

@junkbondanalyst @Restructuring__ Issue #1 out now 🫡

https://t.co/Em4do4Kkwv

[Restructuring__ @Restructuring__]

Huge congrats to @junkbondanalyst

His first edition is 10x better than our first Pari Passu edition, and I am very excited to read his work and see his progress

A great and punchy read

[Trading Away @tradingawayJBA]

@junkbondanalyst More of this every week at https://t.co/AtGsTjFlHC

[Trading Away @tradingawayJBA]

https://t.co/AtGsTjFTxa

[Trading Away @tradingawayJBA]

Trading Away.

The latest on market deals, credit, restructurings, spreads, and what's happening on the Street. The week, told straight. Welcome aboard.

https://t.co/Em4do4JMGX