Insights

Liability management exercises – also known as LMEs, liability management transactions (LMTs) and distressed debt exchanges – are back in the headlines. LMEs are complex strategies that companies use to restructure their debt obligations – often by exchanging, repurchasing, or renegotiating terms – to reduce financial strain, manage cash flow more effectively, and improve their overall financial health as an alternative to bankruptcy…

The tariff policy escalations at the start of Q2 2025 by the current administration have shaken global markets and raised uncertainty to historically high levels. The resulting policies negatively impacted liquidity, while the decline in equity and fixed income markets also led to the denominator effect in asset allocators’ portfolio…