Private Debt: Search for Transparency (First of a Series)

In all the excitement surrounding our just-ended special series on covenant-easing [link] we must have missed it. But several readers pointed out we had neglected to cover the highly unusual sighting last month of a great white shark in Long Island Sound.

Cabot, a nine-foot, eight-inch, 533 lb. tagged fish had been tracked for months. Beginning in the Florida Keys last fall, he made his way finally to the upscale Greenwich, CT shore.

The harbor master there, Ian Macmillan, told the local paper that such an event was uncommon for the region, but assured there should be no cause for alarm.

“Not a problem,” Macmillan reported. “It’s probably well fed.”

A condition some buyers of leveraged loans would kill to be in. Tracking loans is not always as easy as tracking sea creatures.