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1 week ago | 
ionanalytics.com | Kunyi Yang |Lavanya Nair |Ben Miller
A group of Peraton lenders has hired Centerview as financial advisor amid growing concerns over the company’s exposure to federal spending cuts, according to two sources familiar with the matter.
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2 weeks ago | 
ionanalytics.com | Ayse Kelce |Ben Miller
Sunnova has largely stopped originating new business as the residential solar company struggles to pay dealers and explores restructuring options, said three sources familiar with the matter. The Houston-based company halted originating deals in the first quarter, the sources said. Likewise, the company has taken offline a customer referral program. Sunnova has been working to move existing projects to completion, said two of the sources.
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3 weeks ago | 
ionanalytics.com | Ayse Kelce |Madalina Iacob |Ben Miller
Sunnova recently furloughed many employees after issuing a going concern warning in early March, according to public LinkedIn posts by employees and a source familiar. The furlough is expected to last at least through the end of April, according to automatic email replies from the furloughed employees’ email addresses and the source familiar. At least some staff have been told they won’t be paid for the period of the furlough, said the source familiar.
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1 month ago | 
ionanalytics.com | Pablo Dominguez |Ben Miller
If a slowdown in the pace of electrification of the global vehicle base was the name of the game for the auto industry in general and for Nemak in particular in 2024 (See our 4Q23 and 2Q24 credit reports on the company), 2025 has brought a trade war. However, the situation is so volatile that it seems to change by the week, if not by the day.
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1 month ago | 
ionanalytics.com | Paul Gunther |Nick Parker |Ben Miller
Solar company Sunnova Energy has beamed a steady stream of negative news since early March. First, the company issued a going concern warning in its 2024 10K. Only a week later, the company announced that longtime CEO and co-founder John Berger had stepped down and was being replaced by the company’s Chief Operating Officer. Next, it was reported that the strategic options being explored by the company include a bankruptcy filing.
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1 month ago | 
ionanalytics.com | Lavanya Nair |Madalina Iacob |Ben Miller
Existing lenders to Tropicana have offered the company around USD 400m in new financing as discussions regarding a liability management transaction continue, said two sources familiar with the matter. The PAI Partners and PepsiCo-backed maker of orange juice held an in-person meeting with lenders last week to discuss options to bolster liquidity, Debtwire previously reported. Existing lenders and a third party have been competing to provide new financing to address the liquidity crunch.
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1 month ago | 
ionanalytics.com | Lavanya Nair |Madalina Iacob |Ben Miller
Blue Owl Credit and OakTree Capital Management jointly provided a USD 200m loan to Barracuda Networks to help bolster the software company’s liquidity, according to two sources familiar with the situation.
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1 month ago | 
ionanalytics.com | Madalina Iacob |Ben Miller
To mark International Women’s Day, the women of ION Analytics, including reporters and analysts at Debtwire, MergerMarket, Dealreporter, Cybersecurity Law Report, Hedge Fund Law Report, and Anti-Corruption Report have interviewed outstanding women in their respective jurisdictions and fields. It is our honor to highlight these women and their accomplishments and contributions to their industries and share some of their insights and perspectives.
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1 month ago | 
ionanalytics.com | Sara M. Tapinekis |Kennedy Rose |Ben Miller
To mark International Women’s Day, the women of ION Analytics, including reporters and analysts at Debtwire, MergerMarket, Dealreporter, Cybersecurity Law Report, Hedge Fund Law Report, and Anti-Corruption Report have interviewed outstanding women in their respective jurisdictions and fields. It is our honor to highlight these women and their accomplishments and contributions to their industries and share some of their insights and perspectives.
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2 months ago | 
ionanalytics.com | Kennedy Rose |Ben Miller
Note indenture trustee Wells Fargo Bank filed a response opposing Hertz Corp’s application seeking a further extension of time to file a petition for writ of certiorari with the US Supreme Court. The writ of certiorari would request a review of a decision from the US Court of Appeals for the Third Circuit that sided with Wells Fargo.
