Companies need to move fast to refinance leveraged-buyout debt coming due over the next few years, according to ICG. “Folks should start getting ahead of it because the traffic jam may be more the issue than anything,” David Saitowitz, the $126 billion global alternative asset manager’s head of US liquid credit, tells Bloomberg News’ James Crombie and Bloomberg Intelligence’s Mike Holland in the latest Credit Edge podcast. “That could be the kind of risk event that may push the market wider for a period of time,” he says, referring to credit spreads. They also discuss the AI funding bubble, collateralized loan obligation performance and fallen-angel risk.<br>See omnystudio.com/listener for privacy information.

LBO Debt Coming Due Is Next Big Test for Credit Markets, Says ICG

The Credit Edge by Bloomberg Intelligence

Next week on Leaders with me, Francine Lacqua. I speak with Harvard Business School professor Linda Hill about what CEOs need to know to be successful. It really is not about them. It is about the organization. About how to lead in the age of AI. That requires a lot of confidence. And why great leaders embrace conflict. You need to amplify difference. Listen and watch Leaders, the podcast with me, Francine Lacqua, on Bloomberg TV or wherever you get your podcasts.

Hello and welcome to the Credit Edge, a weekly markets podcast. My name is James Crombie. I'm a senior editor at Bloomberg. And I'm Mike Holland, a senior analyst at Bloomberg Intelligence. This week, we're very pleased to welcome David Seidowitz, head of U.S. liquid credit at ICG, the $126 billion global alternative asset manager. How are you doing, David? I'm doing well, Mike. How are you? I'm good. Thank you for asking. Well, we're really excited to speak with you today. David's got an over 25-year track record in the credit space. And that will certainly inform our discussion today.

Prior to his role today at ICG and following some formal credit training at J.P. Morgan, David spent the first part of his career rising through the ranks and taking on a PM role at Stone Tower while navigating the financial crisis. Following that, he spent a decade-plus stint at Apollo Global Management as a PM. And today, in his currency, David helps manage roughly $19 billion of AUM credit assets at ICG. Great to have you on the show, David. And so, as Mike says, you cover the publicly traded debt that's rated below investment grade.

LBO Debt Coming Due Is Next Big Test for Credit Markets, Says ICG

Read the full transcript

The candid version is on a podcast,
not the earnings call.

LBO Debt Coming Due Is Next Big Test for Credit Markets, Says ICG

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.