PDI Picks – 10/23/2023

What’s next for distress?


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.