Show Notes
Welcome to Fixed + Floating: The Credit Podcast! đď¸
Launching this November, Fixed + Floating brings institutional credit investors in-depth conversations with leading voices in credit and macro markets. Our trailer gives you a sneak peek of the insights and strategies weâll cover in full episodes.
Listen to expert discussions on: - Credit markets and investment strategies - Macro trends shaping global finance - Interviews with industry leaders and market experts
Subscribe now on Spotify to never miss an episode: https://open.spotify.com/show/1AVhofAsVGoyC1xeIUda9K?si=4vjGpUrVQhS_KMboAsFUmg
Connect with us and learn more: LinkedIn: https://www.linkedin.com/company/fixed-floating/ Twitter/X: https://x.com/FixedFloating
More from Fixed + Floating - The Credit Podcast
Matt Kingâ (Satori Insights) on France's sovereign risk, the hyperscaler borrowing boom and why tight credit spreads can coexist with growing risks.
Shiloh Bates (Flat Rock Global) on CLO equity returns, loan repricing and private credit CLOs.CLO equity returned about â8% in 2025, on Flat Rock Global's CLO Equity Index. Defaults on 2021-vintage LBOs rose, recoveries fell to around 50 cents, and performing loans repriced tighter.
Michael Gatto (Silver Point Capital) on what decides a lender's recovery: the credit agreement, not the default.
Ankur Patelâ (Ares Credit Group) on asset-based finance for data centres, power and GPUs. A one-gigawatt data centre costs $15â20 billion to build. The GPUs and servers inside it can run $40 billion-plus, and they are the shortest-lived asset in the project. Josef Pschorn speaks with Ankur Patel about how that credit is structured so a lender is not relying on residual chip value to get repaid.
An amend-and-extend moves the maturity and leaves the leverage where it was. A debt-for-equity swap cuts the debt and dilutes the equity. The first is routine and the second is rare, and the constraint is not legal - most of the holder base cannot take the equity or does not want it.