Libby Cherry

London, United Kingdom

Reporter at Bloomberg News

Distressed debt and special situations @business | used to do coins | Views my own [email protected]

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Articles

Credit Fund Värde Eyes Bargains in Tariff-Hit Auto Suppliers (1)

1 week ago | news.bloombergtax.com | Libby Cherry

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Credit Fund Värde Targets Comeback Bets in Tariff-Hit Auto Parts

1 week ago | news.bloomberglaw.com | Libby Cherry

Tariff pain and a gloomy economic outlook is a dangerous mix for Europe’s car industry. For $17 billion credit fund Värde Partners, it’s a buying opportunity. Värde Partners’ London-based head of European corporate and traded credit Carlos Sanz Estevesees bigger auto-parts makers, whose bonds have taken a bruising in recent weeks, as especially promising. With their intertwined and complex supply chains, auto suppliers have been among the hardest-hit in the global selloff.
Nursing Home Colisee Misses Payment as Lenders Await Review

1 week ago | bloomberg.com | Edward Clark |Libby Cherry

An elderly resident is pushed in a wheelchair at a nursing home. Photographer: Bartek Sadowski/Bloomberg(Bloomberg) -- French nursing home operator Colisee Group failed to make a payment due under a term loan facility on Friday, triggering a 30-day grace period to make the interest payment, according to people familiar with the matter.
Webasto Creditors Pick Houlihan Lokey as Adviser Amid Debt Talks

2 weeks ago | news.bloomberglaw.com | Edward Clark |Libby Cherry

A group of bank lenders to German auto parts supplier have picked the investment bank to advise them amid negotiations over the company’s debt load, according to people familiar with the matter. • Webasto already reached a stabilization agreement with lenders in December and brought on a chief restructuring officer with the aim of negotiating a more holistic restructuring• Webasto has more than €1 billion of debt and has enlisted and to advise ...
Credit Markets Paralyzed by Trade War, Putting Debt Deals on Ice

2 weeks ago | news.bloomberglaw.com | Giulia Morpurgo |Abhinav Ramnarayan |Libby Cherry |Josyana Joshua

Company debt sales have ground to a halt in the US as markets across the globe show increasing fear of President Donald Trump’s escalating trade war triggering a global recession. A $1.1 billion leveraged loan sale that was meant to help finance HIG Capital LLC’s purchase of Canadian firm Converge Technology Solutions Corp., was put on pause, according to people with knowledge of the matter.
Tariff Fallout Upends Corporate Bond Deals, Ratchets Risk Higher

2 weeks ago | bloomberg.com | Giulia Morpurgo |Abhinav Ramnarayan |Libby Cherry |Josyana Joshua

Company debt sales have ground to a halt in the US as markets across the globe show increasing fear of President Donald Trump’s escalating trade war triggering a global recession. A $1.1 billion leveraged loan sale that was meant to help finance HIG Capital LLC’s purchase of Canadian firm Converge Technology Solutions Corp., was put on pause, according to people with knowledge of the matter.
European Junk Credit Markets Plunge Further on Tariff Fallout

2 weeks ago | news.bloombergtax.com | Giulia Morpurgo |Abhinav Ramnarayan |Libby Cherry

European junk credit markets slid on Monday as investors dumped risky assets, with an escalating trade war creating fears of a global recession. A gauge for European credit risk jumped as much as 47 basis points and is now at its highest level since November 2023, according to Bloomberg pricing. Bond prices plunged for several members of the index, particularly in the chemicals, auto and real estate sectors, while flooring company Tarkett pulled a deal to amend and extend a term loan.
European Junk Credit Markets Plunge Further on Tariff Fallout

2 weeks ago | news.bloomberglaw.com | Giulia Morpurgo |Abhinav Ramnarayan |Libby Cherry

European junk credit markets slid on Monday as investors dumped risky assets, with an escalating trade war creating fears of a global recession. A gauge for European credit risk jumped as much as 47 basis points and is now at its highest level since November 2023, according to Bloomberg pricing. Bond prices plunged for several members of the index, particularly in the chemicals, auto and real estate sectors, while flooring company Tarkett pulled a deal to amend and extend a term loan.
Private Equity’s Pandemic Bets Unravel: The Brink

3 weeks ago | news.bloomberglaw.com | Libby Cherry

Welcome to The Brink. It’s Giulia Morpurgo in London and Libby Cherry in Frankfurt, where we looked at the unraveling of pandemic bets. We also have news on UK universities, Sunnova and J&J. Follow this link to subscribe. Send us feedback and tips at [email protected]. Normality BitesIn March 2020, the first coronavirus-induced lockdowns altered everyday life dramatically.
Private Equity’s Pandemic Bets Unravel as Normal Life Returns

3 weeks ago | bloomberg.com | Giulia Morpurgo |Libby Cherry

Some stay-at-home winners that emerged with Covid-19 lockdowns have flopped hard This article is for subscribers only. Welcome to The Brink. It’s Giulia Morpurgo in London and Libby Cherry in Frankfurt, where we looked at the unraveling of pandemic bets. We also have news on UK universities, Sunnova and J&J. Follow this link to subscribe. Send us feedback and tips at [email protected]. In March 2020, the first coronavirus-induced lockdowns altered everyday life dramatically.