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Personal

Dec 27, 2024

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17 min read

2024 Pari Passu Year-End Letter #2

Behind the Scenes of your Favorite Newsletter, Key Stats, Best Posts of 2024, and Fun Facts

Other

The 2024 Distressed Investing Conference

Dec 20, 2024

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11 min read

The 2024 Distressed Investing Conference

After all, more business is won by framing advisory as “we have some ideas that will allow you to reconstitute your balance sheet with willing participants” as opposed to “hire us because we are the best at helping you hand the keys to creditors.”

Other

Dec 13, 2024

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12 min read

Sonos ($SONO) Deep Dive

Started with a simple idea: to make it easy for people to listen to any song in any room of their home without hassle. Evolved with a fascinating example of flywheel.

Deep Dives

Dec 6, 2024

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9 min read

The Rise and Fall of SunPower (SPWR)

From a meme stock short squeeze to even the auditor throwing in the towel, the story of SunPower does not lack heat. Let’s dive in.

Tech, Media & Telecom

Software Primer, what Everyone Must Know

Nov 29, 2024

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10 min read

Software Primer, what Everyone Must Know

After all, software companies can go bankrupt. This is everything you need to know to get smart on this sector.

Other

Whole Business Securitization, a Pocket of Financing Opportunities

Nov 22, 2024

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11 min read

Whole Business Securitization, a Pocket of Financing Opportunities

Out Private Credit, In Whole Business Securitization. What makes this type of financing different and why is it fueling some of the largest buyouts of the year?

Industrials

The Infamous Hertz Restructuring, Who Laughs Last Laughs Best

Nov 15, 2024

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15 min read

The Infamous Hertz Restructuring, Who Laughs Last Laughs Best

An abrupt pandemic-driven bankruptcy, audacious equity raise, and the legal complications of “make-whole” fees.

Other

A Company Built in Founder Mode, Airbnb Deep Dive

Nov 8, 2024

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14 min read

A Company Built in Founder Mode, Airbnb Deep Dive

Built in Founder Mode: From a Weird Idea to Paying Rent to Becoming a Verb

Tech, Media & Telecom

Pluralsight, the Restructuring Deal of 2024 (Special 100th Edition)

Nov 1, 2024

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13 min read

Pluralsight, the Restructuring Deal of 2024 (Special 100th Edition)

A cocktail of restructuring, private equity, and private credit. Let's enjoy the 100th Pari Passu Edition

Technical Lesson

Cooperation Agreements, Overview and Effectiveness in Restructuring Situations

Oct 25, 2024

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23 min read

Cooperation Agreements, Overview and Effectiveness in Restructuring Situations

Today, we will shift focus to how creditors have responded to LMEs. Until now, creditors had no choice but to watch sophisticated sponsors handpick a select few who would receive preferential treatment. Distrust ran through messy, unorganized capital structures. But what if creditors could defend themselves as a unified group?

Other

SoFi Deep Dive, Revolutionizing Loan Underwriting

Oct 18, 2024

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13 min read

SoFi Deep Dive, Revolutionizing Loan Underwriting

Challenging the status quo. In this edition of Pari Passu, we’ll delve into the story of SoFi, the firm that disrupted legacy financial service providers with its unique approach to data analytics.

Other

Expedia Deep Dive & COVID Rescue Financing

Oct 11, 2024

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9 min read

Expedia Deep Dive & COVID Rescue Financing

Sometimes restructuring transactions actually work and save the day!

Energy / Power

Nuclear Energy Primer, a Trend too Relevant to Ignore

Oct 4, 2024

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10 min read

Nuclear Energy Primer, a Trend too Relevant to Ignore

Climate change remains one of humanity’s most pressing challenges, and no industry will be more affected than the energy industry. With growing pressure to find suitable alternatives to fossil fuels, some experts have pointed towards nuclear energy as a potential solution.

Industrials

Trinseo, a Double Dip "Pari-Plus" Case Study

Sep 27, 2024

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13 min read

Trinseo, a Double Dip "Pari-Plus" Case Study

Today, we are going to look at another variation of the double-dip: the pari-plus transaction by analyzing the fascinating restructuring of Trinseo.

Industrials

Sep 20, 2024

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10 min read

Heico Deep Dive: a Flying Business

Given Heico’s resilience in aerospace and defense, global reach, innovation and growth, steady financial performance, and diversification, it is worthwhile to examine the company’s potential and impact on the market.

Learn More

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2024 Pari Passu Year-End Letter #2

The 2024 Distressed Investing Conference

Sonos ($SONO) Deep Dive

The Rise and Fall of SunPower (SPWR)

Software Primer, what Everyone Must Know

Whole Business Securitization, a Pocket of Financing Opportunities

The Infamous Hertz Restructuring, Who Laughs Last Laughs Best

A Company Built in Founder Mode, Airbnb Deep Dive

Pluralsight, the Restructuring Deal of 2024 (Special 100th Edition)

Cooperation Agreements, Overview and Effectiveness in Restructuring Situations

SoFi Deep Dive, Revolutionizing Loan Underwriting

Expedia Deep Dive & COVID Rescue Financing

Nuclear Energy Primer, a Trend too Relevant to Ignore

Trinseo, a Double Dip "Pari-Plus" Case Study

Heico Deep Dive: a Flying Business

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