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Podcast: FICC Focus
Episode: Derrough on Restructuringâs 3D Chess: State of Distressed Debt
Description: In his 35 years on Wall Street, Moelisâ Global Co-Head of Capital Structure Advisory Bill Derrough hasnât seen a rescue-financing environment as robust as today, âwhere we [can] run so many parallel processes at the same time.â As one of the key bankers behind Hertzâs successful bankruptcy auction and American Airlinesâ game-changing Chapter 11 exit merger, Bill shares with Bloomberg Intelligenceâs Noel Hebert and Phil Brendel some âwar storiesâ and his insights on trends in liability-management exercises, the rise of cooperation agreements and developing creative restructuring solutions (6:00). Prior to that, Noel and Phil discuss the high yield marketâs historically-tight...