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Our CEO shared his thoughts in Fortune’s latest coverage of Noetica’s Q3 Capital Markets Report: “What the data supports is that lenders are quietly preparing for some distress on the horizon, and we see that in the data with the increasing structural protections existing in new credit deals” - Daniel Wertman Read the full piece below 👇
Noetica's capital markets data is fueling news reports everywhere these days: thanks Fortune for the feature! https://lnkd.in/enDtPfwR
Our CEO, Daniel Wertman, wrote in The Wall Street Journal about shifts inside credit agreements signaling deeper cracks in the market. His article unpacks what’s really happening beneath strong earnings and record-high deal volumes, and how real-time term analysis reveals lenders preparing for distress before headlines catch up. Read the full piece below 👇
The Wall Street Journal just published Noetica's insights on the Tricolor and First Brands’ bankruptcies and it’s not what you would expect. Jamie Dimon warned about "cockroaches" a few weeks ago, and many market leaders are pointing to the typical markers of strength: strong credit quality and stellar earnings. But the 𝘁𝗲𝗿𝗺𝘀 𝗶𝗻𝘀𝗶𝗱𝗲 𝗰𝗿𝗲𝗱𝗶𝘁 𝗱𝗲𝗮𝗹𝘀 𝗮𝗿𝗲 𝘁𝗲𝗹𝗹𝗶𝗻𝗴 𝗮 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝘀𝘁𝗼𝗿𝘆. Thank you to The Wall Street Journal for the story. Comment with thoughts. ⬇️ https://lnkd.in/ecU4raCd
Creditors are closing loopholes, and the rules of private credit are shifting. Our Q3 report reveals that protections designed to block liability management maneuvers are reaching all-time highs. Thanks to Rachel Graf at Bloomberg for covering our findings in her latest story. With trillions in pandemic-era debt set to mature in 2028-2029, these protections are not just defensive; they are shaping how the market braces for the next wave. Check out the full story here 👉 Bloomberg: https://lnkd.in/egvFBuP8
Our CEO Daniel Wertman shared thoughts on Bloomberg's latest feature covering Noetica’s Q3 Capital Markets Report: “Real-time terms intelligence is changing how sophisticated parties approach deals, and the data advantage belongs to those who see market shifts first.” The story captures how lenders are strengthening bankruptcy protections while giving borrowers more flexibility – a shift revealed through Noetica’s analysis of more than one billion deal terms this year. Read Dan’s full post and Bloomberg’s coverage below 👇
Noetica's analytics are fueling deals across the market, and today, Bloomberg exclusively featured our Q3 capital markets data in their latest market intelligence. The findings are fascinating—terms level data reveals where sophisticated market-players see the market headed. As noted in the article: "The vast majority of deals now require all creditors to sign off before giving any new lenders priority in a potential recovery, according to Noetica, a startup software platform that used AI to analyze more than one billion deal terms this year. In exchange, borrowers are getting more flexibility with earnings adjustments." Real-time terms intelligence is changing how sophisticated parties approach deals, and the data advantage belongs to those who see market shifts first. Thanks Bloomberg for the coverage. Let me know what you think in the comments. ⬇️ https://lnkd.in/eW_G-tEN
Noetica reposted this
Plot twist: Noetica’s AI found itself in M&A deals. Not as a buyer or a seller…but a trend-setter. Noetica’s analytics have surfaced something fascinating: M&A targets are now frequently making AI representations and the approaches are all over the map. On one end of the spectrum, you've got targets completely disclaiming AI use. On the other end, we're seeing comprehensive governance frameworks, covering everything from compliance and data governance to IP protection and model training restrictions. In other words, deals are either treating AI like it doesn't exist or treating it like nuclear material that needs full containment protocols. Noetica's software is tracking these terms in real-time across M&A transactions, and the market is moving quickly. As AI capabilities expand across industries, acquirers won't accept "we don't use AI" as a credible representation—especially when employees are using it with or without formal policies. Turns out, the best way to track AI's impact on M&A is to let AI do the watching. If you want to see some of the example terms we’re tracking, comment and I'll send you Noetica's latest insights. ⬇️
Contracts are driving this year’s deal momentum, not the markets. From tariff triggers to tax uncertainties, deal terms are evolving to keep transactions moving forward despite volatility. In Bloomberg, our CEO Daniel Wertman shares how new contractual structures are changing risk allocation and sustaining deal flow. Read the full piece here: https://lnkd.in/eQCqW32D
Noetica reposted this
In his BankThink, Daniel Wertman, co-founder and CEO of Noetica explains that the era of liability management transactions defined by loopholes and aggressive structuring is drawing to a close. With AI-driven tools providing real-time visibility into market precedent, lenders are strengthening protections and closing off the tactics that once reshaped capital structures. In return, borrowers are receiving greater pricing flexibility and execution efficiency — signaling a more balanced phase of the market. Read the full BankThink article: https://lnkd.in/g5XrGf8N
Contractual maneuvers and hidden protections have defined liability management for years. From J.Crew blockers to Anti-PetSmart clauses, these tactics reshaped financing negotiations. Developments in AI-native infrastructure are ushering in a new era. Our CEO, Daniel Wertman, unpacks this shift and what it means for future deals in American Banker. Check out the full piece here: https://lnkd.in/g5XrGf8N
Noetica reposted this
From the poison pill to today’s latest financing tools, innovation in M&A is part of Wachtell Lipton’s DNA. Thanks to Noetica for highlighting a recent innovation in acquisition finance. For more on that development and others, see our memo: https://lnkd.in/e2FAc4kq ✏️: Gregory Pessin, Emily Johnson & Benjamin Nickerson
The M&A world just got a game-changing solution to one of its biggest pain points, and guess who you can thank… When deals require extended regulatory approval timelines, traditional acquisition financing typically expires at the “outside date”—forcing acquirers to renegotiate with financing sources from a position of weakness. Enter the "applicable margin election" term, which Noetica picked up in recent deals: an innovative M&A financing structure that allows acquirers to extend commitment periods by voluntarily accelerating interest payments. It's elegant in its simplicity—lenders receive compensation for the extension risk, while acquirers maintain deal certainty. The term exists in less than 1% of deals today, yet deal negotiations across the Noetica platform indicate it’s catching on: we may be witnessing the emergence of what could become the new market standard for M&A terms. This is exactly why we built Noetica—to catch market innovations at their inception, not after they've become conventional wisdom. 👏 👏 👏 Wachtell, Lipton, Rosen & Katz. Snip from the Noetica platform-wide term trend alert below.
Noetica reposted this
This was a WILD first half in the capital markets—and we at Noetica are lucky enough to have a front row seat, on pace to touch $𝟭 𝗧𝗿𝗶𝗹𝗹𝗶𝗼𝗻 in transactions this year. Excited to be able to share insights from our latest Capital Markets Radar Report, a mid-year financing outlook, which provides an aggregated, unique window into evolving terms and trends (everything from tariffs to tax policy) that shape corporate transactions today. Read my excerpted letter to dealmakers from the report (and see if you can catch the theme)—if you want access to the full report, comment or reach out and we’d be happy to DM it, or download it from the Reuters link in the comments.