What’s next for distress?

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PDI’s Germany Forum examined the upcoming opportunity set for distressed and special situations as a refinancing wave looms.

“This is the best [distress] opportunity we’ve seen in a decade,” said a panellist at the PDI Germany Forum last week, referring to what he described as around 30 percent of the total outstanding bonds and loans market coming to maturity at a time when interest costs will be twice as high as when the loans were taken out.