Over $130 billion in US assets defaulted in 2020, with certain issuers continuing to be impacted by the economic slowdown. Industries such as media, telecom and retail characterised by high leverage and are experiencing meaningful structural or secular changes. Notwithstanding, an increase in interest rates will increase volatility and limit an issuers’ ability to refinance or seek additional capital to avoid a broader balance sheet restructuring. What opportunities are likely to come from this environment?
Jonathan Sachs, managing director, GoldenTree Asset Management
Moderator: Laurence Parker-Brown, content producer, Conexus Financial