@junkbondinvest Avatar @junkbondinvest junkbondinvestor

Private credit and debt management are significant concerns, with many companies struggling with debt servicing and lenders upgrading default ratings. Several high-profile cases of corporate mismanagement and financial manipulation have come to light, including a company allegedly being run as a "personal piggy bank" by its founder. The private credit market is growing, with firms like Apollo, Blackstone, and KKR expanding their operations, but this growth also raises concerns about credit quality and risk.

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Social Influence

Social category influence finance #5302 stocks #5745 financial services #2084 technology brands 4.55% countries 3.03% social networks 0.76% cryptocurrencies 0.76% currencies 0.76% automotive brands 0.76%

Social topic influence debt #1400, ai #3564, fund #619, this is 3.79%, business 3.79%, software #268, in the 3.79%, thoma bravo #6, we are 3.03%, investment 2.27%

Top accounts mentioned or mentioned by @grok @johncit3 @illiquidinsight @levfinor @tonitrades_ @ofcmarshmallow @jwalters314 @buysideaireview @cyrusbarys @jg_nuke @flexifinhq @bowlesey1 @takesplissken @hhawnk15 @gregelmlinger @glakshmivarahan @lee_rahil @joshsendstweets @debt_serious @bonddonkey

Top assets mentioned Leslie's, Inc. (LESL) Electronic Arts Inc. (EA) BlackRock Inc (BLK) Oracle Corporation (ORCL) Alphabet Inc Class A (GOOGL) Whirlpool Corporation (WHR) Dun and Bradstreet Holdings Inc (DNB) JPMorgan Chase (JPM) Landwolf (WOLF) GE HealthCare Technologies Inc. Common Stock (GEHC) Bally's Corporation (BALY) PRiVCY (PRIV)

Top Social Posts

Top posts by engagements in the last [--] hours

"Despite all the AI datacenter hype datacenter REITs are the worst performing US REIT sector YTD at -9.6% Somehow all the headlines forgot to mention this part"
X Link 2025-10-03T22:40Z 44K followers, 94.9K engagements

""Amend and extend" is just a formal way of saying nobody wants to find out what this thing is actually worth"
X Link 2026-02-13T00:08Z 44K followers, [----] engagements

"Here's why people like buying the long end of the treasury curve. Take $TLT for example If long term yields widen out to 5% your loss is -11% However if LT yields tighten to 3% you stand to gain 26% This is just in terms of price appreciation (i.e. excluding coupon) Notice the skewed upside/downside in the trade"
X Link 2023-08-06T19:17Z 44K followers, 473.1K engagements

"The "Golden Age" of Private Credit (Circa 2023):"
X Link 2023-11-22T18:34Z 44K followers, 290.7K engagements

"Private credit lender introduces the concept of "PIK" interest to mid-market merchant (November 2023). #GoldenAge #PrivateDebt"
X Link 2023-12-22T16:36Z 44K followers, 83.2K engagements

"Johnny Drama out on the trading floor selling some distressed nanocap bonds 😂"
X Link 2024-05-21T22:17Z 44K followers, 286.6K engagements

"Ok we doing this or what #Telegram"
X Link 2024-08-26T17:36Z 43.7K followers, [----] engagements

"Its called private credit T. Earnings are made up but the doc is fuckin tight and get thisthese weirdos let us mark it at whatever the fuck we want"
X Link 2024-10-14T19:15Z 44K followers, 81.3K engagements

"PE associate on due diligence trip for a $3mm EBITDA waste management business add-on"
X Link 2024-10-31T16:35Z 44K followers, 152.8K engagements

"Totally accurate risk assessment😅"
X Link 2025-03-08T18:53Z 44K followers, 528.5K engagements

"Bloomberg terminal: For trading securities and apparently gently used Arcteryx vests ($150 OBO)"
X Link 2025-03-18T01:40Z 44K followers, 90.7K engagements

"Software credit analyst realizing that change in deferred revenue is now a negative add back to EBITDA:"
X Link 2025-03-29T22:05Z 44K followers, 112.4K engagements

"Everyone talks about the Tiger Cubs but Drexel alumni created: - Apollo ($630B AUM) - Ares ($419B) - Blackstone Credit / GSO ($320B) - And a dozen more The OG credit mafia"
X Link 2025-04-25T19:31Z 44K followers, 68.5K engagements

"KKR/Capital Group cracking open private credit for retail: - $1000 minimum investment - 0.84% fees (no performance fees) - 40% private credit allocation Just don't ask about the liquidity mismatch"
X Link 2025-04-25T19:44Z 44K followers, 187.9K engagements

"CFA offering new advanced PE certificate with courses on "private debt valuation" For $712 (member rate) you can learn how to creatively mark dead assets at cost"
X Link 2025-04-29T17:59Z 44K followers, 83.9K engagements

"Drop the "private." Just say "credit." Its cleaner"
X Link 2025-05-29T18:21Z 44K followers, 74.4K engagements

"CalPERS buying Yale secondaries at [--] cents and immediately finding $100M in hidden value (Circle) Ocassionally pension funds are the smart money Source: Semafor"
X Link 2025-07-15T18:55Z 44K followers, 120.5K engagements

"Whirlpool watching Asian competitors front-run tariffs with promotions: "This wasn't in the America First playbook" Cuts EPS guidance by $2-4. Stock: -12% $WHR"
X Link 2025-07-28T21:10Z 44K followers, 25.7K engagements

"PE firms invented continuation vehicles because they couldnt exit Now theyre doing continuation vehicles OF continuation vehicles Cant make this up"
X Link 2025-08-13T14:04Z 44K followers, 85.7K engagements

"Wow $LESL 1L TL falling off a cliff. Now trading in the 40s"
X Link 2025-08-20T14:52Z 43.6K followers, [----] engagements

"How soon before Clearlake does an LME $DNB"
X Link 2025-08-26T13:33Z 43.6K followers, 18.7K engagements

"The guy who JUST rated your private credit loan investment grade:"
X Link 2025-08-29T17:26Z 44K followers, 45.8K engagements

"PE blocking every LP attempt to actually get their money back"
X Link 2025-09-03T20:16Z 43.9K followers, 33.6K engagements

"Apollos raising $10 billion by creating an SPV that owns stakes in funds that own loans that are probably owned by other funds. Its fees all the way down and the bottom is your pension"
X Link 2025-09-18T17:47Z 44K followers, 216.4K engagements

"$30 billion in private credit CLOs already this year surpassing last years pace Were packaging illiquid private loans into tradable securities at the fastest pace ever seen The last time we packaged illiquid loans into securities THIS enthusiastically we needed a global bailout. But these are different These are private credit loans not mortgages"
X Link 2025-09-24T23:40Z 44K followers, 72.8K engagements

"Brookfield and Apollo both saying PE is massively oversaturated: [----] firms or [----] too many "Many don't realize they just raised their last fund" Hate to say it but they're probably right"
X Link 2025-09-26T13:54Z 44K followers, 171.2K engagements

"JPMorgan's $20B debt commitment to the EA buyout is the largest single-bank LBO commitment EVER Banks finally beat private credit to a mega-deal while CLOs starve for new paper Sometimes the old guard still wins $JPM $EA"
X Link 2025-09-30T00:46Z 44K followers, 50.1K engagements

"JPMorgan paid $175M for Frank after due diligence that: - Missed [--] MILLION fake users - Thought BofA was bidding (nope CapOne withdrew same day) - Email blast to "millions of users" yielded [--] accounts Peak institutional DD Charlie Javice sobs in court as shes sentenced to [--] years in prison for swindling JPMorgan out of $175 million: I am no longer a source of pride for my family https://t.co/mb1fy0m7qS https://t.co/hMSJMYYrNy Charlie Javice sobs in court as shes sentenced to [--] years in prison for swindling JPMorgan out of $175 million: I am no longer a source of pride for my family"
X Link 2025-09-30T00:52Z 44K followers, 131.8K engagements

"Reminder: First Brands was a widely held BSL and $2.3B allegedly just vanished Now think about private credit deals with 2-3 lenders quarterly (maybe) reporting and marks set by the people who made the loan If this happened in the visible market whats happening in the invisible one"
X Link 2025-10-10T18:05Z 44K followers, 122.4K engagements

"Howard Marks selling his remaining Oaktree stake right as: - Alternative managers consolidating at record valuations - BlackRock paying $12B+ for competitors - Everyone racing to build credit platforms Guy who made his fortune on distressed debt timing the exit perfectly. Again"
X Link 2025-10-13T17:52Z 44K followers, 157.6K engagements

"Apollo shorted First Brands debt before its $10B+ collapse Now Apollo (along with Sona Axebrook) shorting Adler Pelzer another auto-parts supplier 18% of bonds out on loan; bonds: [--] - [--] cents When Apollo keeps shorting your sector pay attention"
X Link 2025-10-17T15:37Z 44K followers, 195.5K engagements

"First Brands DIP budget show $134mm in restructuring fees in [--] weeks. Thats $10mm+ per week in professional fees just to sort through this mess. Bankruptcy is expensive. Fraud bankruptcies are REALLY expensive"
X Link 2025-10-17T20:02Z 44K followers, 94.1K engagements

"Banks warning about private credit quality while funding its growth: Wells Fargo: $60B lent to private credit BofA: $33B PNC: $30B JPM: $22B Total: Nearly $300B Cant raise alarms about cockroaches when youre the one feeding them"
X Link 2025-10-22T23:18Z 44K followers, 104.4K engagements

"Just offloaded some data center construction debt to a schoolteachers 401k"
X Link 2025-10-24T16:17Z 44K followers, 232.1K engagements

"Created r/LeveragedFinance for people working in credit First Brands postmortems EBITDA add-backs and why we keep losing on doc terms Safety in numbers"
X Link 2025-10-24T19:26Z 44K followers, 51.6K engagements

"What book has you like this https://t.co/uskuAqcryl What book has you like this https://t.co/uskuAqcryl"
X Link 2025-11-01T20:07Z 44K followers, 148.2K engagements

"Founders sold Hooters decades ago PE took over changed everything Now founders buying it back post-bankruptcy First move: Undo everything PE did The cycle is complete"
X Link 2025-11-03T21:08Z 44K followers, 146.4K engagements

"Checking to see if the new issue I bought is trading up 99.875-100.125 1MMx1MM"
X Link 2025-11-06T23:30Z 43.9K followers, 15K engagements

"China is spending billions to control the silicon carbide supply chain The US has exactly one scaled domestic producer $WOLF It just emerged from bankruptcy with the debt wiped clean Post-reorg equity you don't usually see"
X Link 2025-11-14T19:54Z 43.6K followers, 13.4K engagements

"Heres the setup: https://www.junkbondinvestor.com/p/wolfspeed-inc-wolf-post-reorg-pre https://www.junkbondinvestor.com/p/wolfspeed-inc-wolf-post-reorg-pre"
X Link 2025-11-14T19:55Z 43.6K followers, [----] engagements

"Blue Owl's solution to rising redemptions: Step 1: Block redemptions in $1B retail fund Step 2: Force merger with fund trading 20% below NAV Step 3: Investors take 20% loss lose redemption rights permanently Step 4: CFO calls it a "no-brainer at [--] cents" Redemptions climbed to 6% of NAV in Q3 So they eliminated redemptions entirely Problem solved"
X Link 2025-11-16T20:50Z 44K followers, 370.9K engagements

"PE firms are now credit firms Apollo: 82% of AUM is credit ($723B) Ares: 72% credit ($391B) PE down to 5% from 9% Blackstone: Credit now 33% vs PE at 31% Successful pivot from financial engineering to financing the real economy"
X Link 2025-11-18T19:38Z 44K followers, 74.7K engagements

"Merck and GE Healthcare raised $9.25 billion in ONE DAY for acquisitions that wont close until [----] Deals announced just [--] weeks earlier Q4 2025: $113B in M&A bond sales (highest in [--] years) Funding deals [--] months early because conditions are too good to wait"
X Link 2025-12-08T16:50Z 44K followers, [----] engagements

"Bally's couldn't get bank loan after trying to swap real collateral for unbuilt casino Got $1.1B from private credit instead The bid knows no bounds $BALY"
X Link 2025-12-09T00:35Z 44K followers, 15.7K engagements

"Private credit default rate hit 5.7%. Here's the breakdown: 59% PIK toggle (can't pay cash pay in more debt) 25% maturity extension (can't refi push it out) 9% actual missed payment In public markets this is called distressed. In private credit it's called "bespoke solutions." https://twitter.com/i/web/status/2002419338733891664 https://twitter.com/i/web/status/2002419338733891664"
X Link 2025-12-20T16:42Z 43.8K followers, 88.4K engagements

"Private credit ETF $PRIV raised $45M of $1.5 trillion in [----] ETF flows then lost $100M in November despite outperforming State Street seeing "great enthusiasm" and "increasing interest" somewhere"
X Link 2025-12-23T17:09Z 44K followers, [----] engagements

"Wall Street wants to put private credit in your 401k Meanwhile the publicly traded version they already sold to retail investors: KKR's BDC: down 33% YTD BlackRock BDC: 7% nonperforming Blue Owl: scrapped fund merger after backlash Democratization. Source: WSJ"
X Link 2025-12-28T18:13Z 44K followers, 21.5K engagements

"Wrote up Leslie's Poolmart back in October. 1L term loan up 30%+ since. Distressed retail isn't always a death sentence. The price you pay matters $LESL"
X Link 2026-01-04T17:08Z 43.8K followers, [----] engagements

"Meta and Blue Owl raised $27B for a single data center in Louisiana. That's one building. Banks forecasting record IG issuance in [----]. MS sees $2.3T. Credit markets are the financing arm of the AI buildout now. Whether they know it or not. AI Debt Spree Is Fueling a Credit Trading Frenzy While the bulk of the supply will be in USD bonds also a great number of reverse yankee bonds is expected. https://t.co/YGUwAZQwGw AI Debt Spree Is Fueling a Credit Trading Frenzy While the bulk of the supply will be in USD bonds also a great number of reverse yankee bonds is expected. https://t.co/YGUwAZQwGw"
X Link 2026-01-05T01:15Z 44K followers, 14.6K engagements

"Non-traded BDC redemptions used to run 2%. Now running 5%. Blue Owl just let 17% out. Sentiment doesnt show up in the NAV. It shows up at the exit"
X Link 2026-01-07T17:43Z 44K followers, 16.4K engagements

"CD&R raising $26B for new PE fund. Would be among largest ever. Meanwhile rest of industry raised $407B in [----] vs $612B in [----]. Down 33%. The big keep getting bigger while the rest fight for scraps"
X Link 2026-01-12T17:52Z 44K followers, [----] engagements

"AI-related debt issuance: $200B in [--] vs.$70B in [--] Now 30% of net IG supply Big Tech has mountains of cash. Still issuing bonds for AI buildouts. IG investors wanted safe corporate bonds. Now getting concentrated AI capex bets instead"
X Link 2026-01-13T15:31Z 43.6K followers, [----] engagements

"Everyone's debating whether $WW equity works post-restructuring Meanwhile the 1L is at [--] cents. S+680. 14% yield. Sub-2x leverage. $1.6B of debt became $465M. Maybe the wrong part of the cap stack is getting attention"
X Link 2026-01-16T21:17Z 44K followers, [----] engagements

"$7bn pulled from private credit funds in Q4. Blackstone: $2.1bn (4.5%) Ares: $600M (5.6%) BlackRock/HPS: $475M (4.1%) Blue Owl tech fund: 15% (lol) The funny part is First Brands and Tricolor were mostly bank deals. PC is eating the reputational hit anyway. Dimon says "cockroach" and the whole asset class takes redemptions. #GoldenAge https://twitter.com/i/web/status/2012570379173155172 https://twitter.com/i/web/status/2012570379173155172"
X Link 2026-01-17T16:59Z 44K followers, 37.8K engagements

"Sweetgreen's expansion chief is OUT. The company has never turned a profit. SSS worst since pandemic. Stock down 76%. They pulled their fries after [--] months because "undue complexity." It's a salad restaurant.🤦♂ $SG"
X Link 2026-01-17T21:50Z 43.6K followers, 11.7K engagements

"$CHGG is the template. AI showed up. Business evaporated. A lot of SaaS charts are going to look like this"
X Link 2026-01-18T23:34Z 44K followers, 54.8K engagements

"Buried in the Thoma Bravo interview: Some public software companies are now unbuyable because SBC is so excessive PE cant afford to cash it out If SBC eats the equity PE isnt your exit"
X Link 2026-01-22T22:02Z 44K followers, 146.4K engagements

"Schwarzman in 2023: If you can earn 12-13% in senior secured bank debt what else do you want to do in life Blue Owl Tech investors in Q425: Redemption requests at 17% Turns out the answer was get my money back"
X Link 2026-01-24T01:30Z 44K followers, 147.9K engagements

"The Yale endowment model in 2025: Yale 3-year return: 6.2% Princeton: 4.3% Simple 70/30 portfolio: beat both College of New Jersey with ZERO PE: 11.5% Turns out index funds work"
X Link 2026-01-27T13:14Z 44K followers, 93.2K engagements

"FAT Brands joins the casual dining bankruptcy list: Hooters Red Lobster TGI Friday's FAT Brands All loaded with whole business securitization debt. All BK. Meanwhile Jersey Mike's just issued $760M in whole business securitization debt last week. $FAT"
X Link 2026-01-27T15:18Z 44K followers, 13K engagements

"Higher ed credit stress: St. Lawrence: downgraded two notches above junk Gannon: downgraded to lowest IG Saint Francis: downgraded Bard upgraded after Soros donated $1 billion though The solution is simple. Just get a billionaire to donate"
X Link 2026-01-28T13:27Z 43.6K followers, [----] engagements

"Another Clearlake special. Pretium did an LME in [----] and a debt buyback in [----]. Filed Chapter [--] this week. 80% of LMEs default within [--] years. Right on schedule"
X Link 2026-01-29T13:55Z 43.6K followers, 20.9K engagements

"Blue Owl tech fund lost 15% of assets the moment they let people leave. This is the product going into wealth channels and 401ks"
X Link 2026-01-29T18:30Z 44K followers, 14.7K engagements

"JPM selling $EA's TLA: $3B SOFR+250-275. Middle East and Asian banks buying now. TLB and bonds in April. $20B total. Biggest LBO financing EVER. Banks desperate for M&A fees finally eating. https://twitter.com/i/web/status/2017265879927394408 https://twitter.com/i/web/status/2017265879927394408"
X Link 2026-01-30T15:57Z 43.6K followers, [----] engagements

"Fitch private credit default rate: 5.6% and rising. Tracking [----] borrowers. [--] defaults last year. Healthcare leading the way. Now imagine the stuff that isn't tracked"
X Link 2026-01-31T23:01Z 43.6K followers, 23.4K engagements

"Software is 12% of the leveraged loan market. Now it's the worst performing sector in CLOs. Loans down. Deals pulled. MS recommending shorts. The real problem is [----] deal structures priced for growth that never came. AI is just the catalyst"
X Link 2026-02-01T14:07Z 43.6K followers, 38.9K engagements

"Oracle raising $45-50 billion this year. Half equity. Half bonds. Single bond issuance coming early [----]. The AI revolution runs on leverage. $ORCL"
X Link 2026-02-01T23:44Z 43.7K followers, 20.4K engagements

"UBS worst-case AI disruption scenarios: - Private credit: 13% defaults - Leveraged loans: 8% - High-yield bonds: 4% PC most exposed because that's where 2021-2022 vintage software deals got funded when banks couldn't syndicate. The concentration is now becoming the vulnerability. https://twitter.com/i/web/status/2018469583498416333 https://twitter.com/i/web/status/2018469583498416333"
X Link 2026-02-02T23:40Z 43.9K followers, 44.2K engagements

"Why would a PE firm sell an asset at a LOSS when holding it keeps the 2% management fee alive They wouldn't. That's the problem. This is what's called a zombie fund. $130 billion in AUM across [--] firms. No new flagship in 5+ years. Here's the top [--]. Some surprising names on the list. https://twitter.com/i/web/status/2018514162024894909 https://twitter.com/i/web/status/2018514162024894909"
X Link 2026-02-03T02:37Z 44K followers, 272K engagements

"https://www.forbes.com/sites/hanktucker/2026/01/29/why-private-equity-is-suddenly-awash-with-zombie-firms/ https://www.forbes.com/sites/hanktucker/2026/01/29/why-private-equity-is-suddenly-awash-with-zombie-firms/"
X Link 2026-02-03T02:38Z 43.9K followers, 17.5K engagements

"Blue Owl BDC at lowest level since October [----]. Software is 20% of BDC portfolios. Maybe more. The loans don't trade so nobody knows the real marks. And that's before you count the software companies classified as "healthcare""
X Link 2026-02-03T23:30Z 44K followers, 25.4K engagements

"Deutsche Bank is stuck with $1.2B of Conga loans. Thoma Bravo software deal. SOFR + [---] @ [--]. But the business is document automation. Absolutely PEAK AI disruption risk. The hung deal era is here"
X Link 2026-02-03T23:40Z 44K followers, 26.8K engagements

""What's your software exposure""
X Link 2026-02-04T00:56Z 44K followers, [----] engagements

"Imagine being the PE firm that paid 24x in [----] with 6x leverage* *6x ARR"
X Link 2026-02-04T01:04Z 44K followers, 26.4K engagements

"If it wasn't obvious by now software credits just had their worst weeks in years. Alright. Who's buying What and why"
X Link 2026-02-04T01:15Z 44K followers, 19K engagements

"The PE exit market in one chart. Fund closings back to [----] levels. Holding periods at records. But dont worry the mgmt fees still clear"
X Link 2026-02-04T17:03Z 44K followers, [----] engagements

"Software was supposed to eat the world. Now software stocks lost $300B in a single day because AI is eating software The sticky recurring revenues thesis is about to be tested"
X Link 2026-02-04T17:14Z 44K followers, [----] engagements

"6 months later and here we are 😅 Can't wait for AI to crush all these "defensible" software credits "Sticky recurring revenues" and "cash EBITDA" about to meet their AI replacements. Can't wait for AI to crush all these "defensible" software credits "Sticky recurring revenues" and "cash EBITDA" about to meet their AI replacements"
X Link 2026-02-05T03:20Z 44K followers, 21.8K engagements

"PE cant sell companies so they invented secondaries Secondaries got so big they needed their own secondaries funds Now managers are buying secondaries managers Were running out of layers of financial engineering to avoid actually exiting investments"
X Link 2026-02-05T16:36Z 44K followers, 40K engagements

"Buffett once said if you saw cars coming in [----] you shouldve shorted horses not picked automakers. Private credit in 2021-2022 decided to go long horses. Specifically enterprise software at peak valuations funded with floating rate loans"
X Link 2026-02-05T19:20Z 44K followers, 53K engagements

"Blue Owl says their software portfolio is "pristine" and has "largely green flags" Public markets disagree (-24% YTD 52-wk lows). 15% redemptions also disagree. But the marks agree. That's what matters"
X Link 2026-02-06T14:30Z 44K followers, 58.2K engagements

"@LevFinor I bet they're all marked at par too right"
X Link 2026-02-06T14:58Z 43.9K followers, [----] engagements

"Thoma Bravo put a snitch clause in their loan docs. Lenders must self-report within [--] days if they join a co-op agreement. Or lose voting rights. Lenders funded it anyway. S+450. Cov-lite. PIK toggle. The relationship is not what you think it is"
X Link 2026-02-06T16:33Z 44K followers, 57.8K engagements

"r/leveragedfinance is now over [----] members. No snitch clause. No 3-day reporting requirement. Join us. #SafetyInNumbers https://www.reddit.com/r/leveragedfinance/ Created r/LeveragedFinance for people working in credit First Brands postmortems EBITDA add-backs and why we keep losing on doc terms Safety in numbers https://t.co/68KCZU8kmd https://www.reddit.com/r/leveragedfinance/ Created r/LeveragedFinance for people working in credit First Brands postmortems EBITDA add-backs and why we keep losing on doc terms Safety in numbers https://t.co/68KCZU8kmd"
X Link 2026-02-06T21:56Z 44K followers, 13.8K engagements

"Thoma Bravo's lawyers are drafting the cease and desist now"
X Link 2026-02-06T21:56Z 44K followers, [----] engagements

"$18 billion in tech loans dropped to distressed levels in four weeks. Total distressed pile now $47 billion. But don't worry private credit managers assure us the equity cushion is "generous.""
X Link 2026-02-08T02:26Z 44K followers, 18.1K engagements

"1/3 of the largest US accounting firms are now owned by PE. The concern regulators are raising: What happens when auditors find something wrong at a company owned by the same PE firm that owns them In the UK thats banned. In the US its just. a concern being raised"
X Link 2026-02-09T14:11Z 44K followers, 41.6K engagements

"CLOs figured out a cheat code. Create your own captive equity fund to buy the risky portion of your own CLOs. Now you dont need external investors to validate that the deal makes sense. You just. do the deal and collect the fees"
X Link 2026-02-09T14:21Z 43.9K followers, 20.9K engagements

"MS expects hyperscalers to borrow $400 billion this year. Oracle: $25B done Alphabet: $20B pricing now IG spreads at two-decade tights. Supply is coming. $ORCL $GOOG"
X Link 2026-02-09T19:33Z 44K followers, 17.9K engagements

"Somewhere a credit analyst is building a recovery waterfall in Excel for a SaaS company whose product Claude can replicate in [--] seconds"
X Link 2026-02-09T19:43Z 44K followers, 53.7K engagements

"@BuysideAIreview Wydm Youre telling me you dont do this"
X Link 2026-02-09T20:44Z 43.7K followers, [----] engagements

"Three weeks ago: 77% of loans above par repricing wave in full swing Today: 38% above par M&A deals replacing repricings The software selloff reset the whole market"
X Link 2026-02-09T23:06Z 44K followers, 14.8K engagements

"Lot of questions about BDCs lately. Wrote a primer. What they are. How the fees work. Why the liability side can blow up faster than the asset side. Check out Part [--] here (link below):"
X Link 2026-02-10T01:15Z 44K followers, 19K engagements

"https://www.junkbondinvestor.com/p/the-bdc-primer-part-1 https://www.junkbondinvestor.com/p/the-bdc-primer-part-1"
X Link 2026-02-10T01:16Z 44K followers, [----] engagements

"Irreplaceable skill set. The moat is deep"
X Link 2026-02-10T02:24Z 44K followers, [----] engagements

"Every software LBO from [----] is now a live experiment in whether mission critical actually meant anything"
X Link 2026-02-10T18:14Z 44K followers, 10.9K engagements

"EA [----] bondholders were supposed to get a [---] CoC upon an LBO. Yet after the announcement the bonds traded only at [--]. Not quite [---]. There was a reason. Today we learned why. JPMorgan launched a tender at T+0. Bonds dropped [--] points. Wrote about the defeasance risk back in October. $EA While equity holders celebrate their 25% takeover premium sleepy IG bondholders who bought $EA's 2051s in the 60s are staring at 50%+ returns. More than double the equity return. With a contractual put at [---]. Yet the bonds trade at [--] an 11-point discount. Why is nobody https://t.co/jvj3cx2ovX While equity"
X Link 2026-02-11T00:14Z 44K followers, 34.4K engagements

"https://www.bloomberg.com/news/articles/2026-02-10/jpmorgan-kicks-off-electronic-arts-1-5-billion-bond-buyback https://www.bloomberg.com/news/articles/2026-02-10/jpmorgan-kicks-off-electronic-arts-1-5-billion-bond-buyback"
X Link 2026-02-11T00:17Z 44K followers, [----] engagements

"Wow shocked that people don't want to buy jewelry from their TV anymore. Some business models can't be restructured. They should just end. $QVC"
X Link 2026-02-11T00:18Z 44K followers, 10.5K engagements

"Private equity buying OnlyFans to help "under-banked" creators. $1.6B in annual revenue. $1B in dividends to the owner. IPO path by [----]. The deal flow in [----] is something else"
X Link 2026-01-30T20:42Z 44K followers, 234.6K engagements

"You want to know where we are in the credit cycle A prison food company just issued CCC bonds to pay a dividend to its PE sponsor. That's where"
X Link 2026-02-12T01:29Z 44K followers, 140.6K engagements

"Every BDC quarterly letter should just say we are choosing not to mark this down and you cant make us"
X Link 2026-02-13T18:40Z 44K followers, [----] engagements

"Someone is selling their mechanical keyboard on Bloomberg. We are SO back"
X Link 2023-09-14T23:59Z 44K followers, 329.6K engagements

"Thoma Bravo raises $3.6bn credit fund "focused on enterprise software" Translation: We're going to lend to our own portfolio companies"
X Link 2025-01-21T22:03Z 44K followers, 56.2K engagements

"Finally a PE rollup that makes sense: buying every marina so superyacht owners have nowhere else to park"
X Link 2025-09-18T19:48Z 44K followers, 106K engagements

"BDO borrowed $1.3B from Apollo at 9% to fund their ESOP BDO gave First Brands clean audit in March First Brands collapsed months later Apollo (BDOs lender) was shorting First Brands debt BDO now laying off staff to manage Apollo debt payments Nothing to see here just normal audit independence"
X Link 2025-10-11T18:57Z 44K followers, 206.4K engagements

"Private credit showing 81% historical correlation to leveraged loans. But dont worry its definitely safer because they do more diligence and know the borrowers better"
X Link 2025-10-14T15:31Z 44K followers, 51.1K engagements

"While equity holders celebrate their 25% takeover premium sleepy IG bondholders who bought $EA's 2051s in the 60s are staring at 50%+ returns. More than double the equity return. With a contractual put at [---]. Yet the bonds trade at [--] an 11-point discount. Why is nobody arbitraging this gap Theres a catch: https://twitter.com/i/web/status/1978976308320154009 https://twitter.com/i/web/status/1978976308320154009"
X Link 2025-10-17T00:08Z 44K followers, 81.2K engagements

"Jennifer Garner's baby food company just IPO'd. Lost $24 million last year $724mm valuation. Popped 17% first day. Meanwhile PE sponsors are sitting on 6-year holds raising continuation vehicles and praying for an exit. The IPO window is open. Just not for you"
X Link 2026-02-08T02:25Z 44K followers, 51K engagements

"Everyone worried about AI disruption especially analysts But AI will never replace the nuance of a human asking "what's your leverage target" or "what's the right way to think about EBITDA margins going forward" Some things require a human touch"
X Link 2026-02-10T02:23Z 44K followers, [----] engagements

"Two pitches happening in credit markets simultaneously: Private credit: Low defaults stable income let's get into 401ks Oaktree: Largest distressed fund ever opportunity set has never been bigger These are descriptions of the same borrower pool"
X Link 2026-02-12T00:16Z 44K followers, 20.6K engagements

"Blue Owl classifies the same company as chemicals in one fund and software in another. Same loan. Same borrower. Different label. Their explanation: Each fund has a different investment strategy so classifications can differ. This is what self-reported disclosure looks like. You get to pick your own sector the same way you get to pick your own marks. https://twitter.com/i/web/status/2022373752458101068 https://twitter.com/i/web/status/2022373752458101068"
X Link 2026-02-13T18:14Z 44K followers, 87K engagements

"AI disruption is hitting IG credit spreads not just stock prices. Concentrix: BBB-rated [------] call center employees. Paid 130bps concession to refinance. Stock down 24% last week. Spreads doubled in February. Credit markets pricing obsolescence before it shows up in earnings"
X Link 2026-02-16T17:37Z 44K followers, 15.3K engagements

"A year ago CDS on Alphabet and Meta didn't exist. Now they're among the most actively traded single-name contracts in the US market Nobody creates a default insurance market for fun. $GOOG $META"
X Link 2026-02-16T17:44Z 44K followers, 42.3K engagements

"Apollo says [--] cents. KKR says [--] cents. Same loan. Same company. Same quarter. Fourteen point gap on Medallia debt. Record spread for private credit. Illiquidity premium includes the premium of making up your own price"
X Link 2025-11-13T16:54Z 44K followers, 175.3K engagements

"AMC's capital structure has [----] lien notes and [---] lien notes. When your liens need decimals you know how this ends. Three years to the maturity wall. Plenty of decimals left. $AMC"
X Link 2026-02-04T02:46Z 44K followers, [----] engagements

"Wrote up the situation the box office math and where the value might be. https://www.junkbondinvestor.com/p/amc-entertainment-amc-a-layer-cake https://www.junkbondinvestor.com/p/amc-entertainment-amc-a-layer-cake"
X Link 2026-02-04T02:48Z 44K followers, [----] engagements

"Nice friendly exchange between $PSEC's CEO and a WFC research analyst on today's earnings call 😅🤣"
X Link 2024-08-29T14:44Z 44K followers, 257.8K engagements

"$355 million in bankruptcy fees for a turnaround that lasted a measly [--] months is absolutely grotesque Lawyers extracted more value than the entire restructuring created"
X Link 2025-05-14T00:02Z 44K followers, 59.3K engagements

"Google issuing a 100-year bond to fund AI capex. Remember JC Penneys 100-year bond Issued in [----]. Bankrupt in [----]. At least they got their basis back in coupons"
X Link 2026-02-10T18:02Z 44K followers, 15.8K engagements

"58% of PIK in private credit is "bad PIK" per Lincoln. Borrower stops paying cash. Lender accepts more debt instead. Everyone marks it at par. This is called "performing.""
X Link 2026-02-13T00:04Z 44K followers, 27.7K engagements

"Software: 40% of PE deals last decade. A third of private credit. Rowan: "Technology change is going to cause massive dislocation in the credit market. As a lender I'm not sure I want to be there to find out." Apollo cut exposure. Others didn't"
X Link 2026-02-13T00:14Z 44K followers, 47.3K engagements

"Anthropic CEO: half of entry-level jobs may vanish by [----]. IBM: triples entry-level hiring Different read on the same technology"
X Link 2026-02-13T00:26Z 44K followers, 12.8K engagements

"This is why BDC marks deserve more scrutiny than they get Broke down how to spot the ones most exposed: https://www.junkbondinvestor.com/p/the-bdc-primer-part-1 https://www.junkbondinvestor.com/p/the-bdc-primer-part-1"
X Link 2026-02-13T00:46Z 44K followers, [----] engagements

"Dun & Bradstreet was the largest fintech transaction in [----]. A company founded in [----]. Fintech"
X Link 2026-02-13T00:47Z 44K followers, 12.3K engagements

"Five private credit firms just provided $1.4B for a software buyout of OneStream valued at $6.4B. Same week everyones asking whether AI will make these companies obsolete. The market is telling you software is at risk. The lenders are telling you they need to deploy capital. Guess which one wins"
X Link 2026-02-16T19:52Z 44K followers, 21.8K engagements

"Private credits pitch: We're not banks we just do exactly what banks do with less oversight Now managing $3.4 trillion👇"
X Link 2025-01-13T15:28Z 44K followers, 107.3K engagements

"CoreWeave raising $1.5B more in unsecured debt after already borrowing $12.9B at 11-15%. Sometimes the real innovation is in the financing"
X Link 2025-05-09T13:20Z 44K followers, 71.5K engagements

"They asked if I regret making the loan. I said no. I got the origination fee"
X Link 2025-09-19T17:26Z 44K followers, 44.3K engagements

"Apollo discovered the one weird trick rating agencies love: take private credit fund stakes (inherently risky and illiquid) put them in an SPV slice them into tranches and boom: AAA-rated securities We literally had a global financial crisis about this exact thing. The only difference is now it's private credit instead of mortgages. The SPV the tranches the ratings arb.it's all there. Even the buyers are the same.insurance companies desperate for yield"
X Link 2025-09-22T23:33Z 44K followers, 197.8K engagements

"Listening to the CFO explain why negative FCF is a sign of growth"
X Link 2025-10-25T23:34Z 44K followers, 59.8K engagements

"Sponsor dividend recap. https://t.co/Rt4GkWMYD2 https://t.co/Rt4GkWMYD2"
X Link 2026-02-17T01:00Z 44K followers, [----] engagements

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