Octus

🚨 A $15.3B ADT buyout. And a potentially record-breaking backup plan. Thrive Holdings is seeking ~$9.6B in bank financing, with an Apollo-led $9B+ private credit package committed as a backstop. Reporting ✍️: Paola Aurisicchio, Yuheng Zhan & Benjamin Taubman

A refund in writing. But who pays if the community goes bankrupt? At some continuing care retirement communities, new residents’ entrance fees help fund operations and refunds owed to earlier residents. The money a family expects back may already be supporting the business. Bankruptcy can expose the gap between that promise and what residents recover: • At Harborside in New York, the bankruptcy plan canceled more than $91 million in resident refunds. Its skilled nursing center also closed. • At Buckingham in Texas, the confirmed plan projects a 4.8% recovery on eligible resident refund claims, compared with 56.2%–56.3% on secured bondholder claims. Those are projected recoveries, not payments already made. Octus legal analyst David Zubkis’ analysis helped illuminate the credit questions behind NBC News’ reporting. Watch from 35:58: bit.ly/485hmEl Read the investigation: nbcnews.to/4iMfjuE

🚨 ADT could go private. And private credit could set a new record. Joshua Kushner’s Thrive Capital is in talks to take ADT private, with a potential record-breaking private loan on the table. Bank financing is also being explored, and no deal is finalized. Reporting: Paola Aurisicchio, Melina Chalkia & Collin Krabbe.

⚾ A $2B swing for one of baseball’s most iconic brands. Partners Group is nearing a deal to acquire Rawlings, with $1.1B in debt financing in the works. An agreement could come as soon as this week. The scoop from Octus reporters Michael Haley and Paola Aurisicchio.

We started with bankruptcy dockets. 13 years and a lot of client feedback later, here we are. Today, LSEG announced an agreement to acquire Octus. To our clients and our team, thank you for getting us here. More to come.

What’s in your CLO, and how does it compare? Look closer at the borrowers, and even manager rankings can change. Explore deal comparisons, sector data and US and European manager rankings in the full brief. 📥 bit.ly/4z39zCK

798 deals in European private credit this year so far (9M'26). Who’s leading, who’s climbing and where is pricing heading? 👉 Swipe for the highlights, then get the full rankings: bit.ly/47WkwtK

We’re excited to partner with @Hebbia! Great answers start with great data, and credit is where the details matter most. Learn more: bit.ly/4yhsFDW

Everyone's generous with other people's money. Just ask LIV Golf, or Rich Dad Poor Dad's actual poor dad. Catch up on EP 37 of The Octus Download. 💸 🎧 Watch/listen now: ▶️: bit.ly/47klwaJ 🍎: apple.co/4iR8I2S 🟢: bit.ly/4yhxg9L

AI can read the words in an email. But that doesn’t mean it understands the email. Layout, tables and links all help give information context. We built a model to read deal emails with that structure intact. Here’s what we learned: bit.ly/4xHS619

How do you put years of pain and suffering into words? Beep beep. 🐦 On the latest Octus Download: Brightline’s $5.5B debt problem, Syracuse’s enrollment shortfall, the Clippers report and Coyote vs. Acme. 🎧 Watch/listen now: ▶️: bit.ly/3TDW394 🍎: apple.co/4xuSIqC 🟢: bit.ly/4gYMACb

Twenty-five years ago, a late train kept Octus CFO Steve Vigliotti from reaching his office on the 84th floor of the South Tower. This week on People You Should Know, he joins Jenny Bain to share his story of 9/11 and how that day changed the way he leads. 🎧 Watch/listen now: 🍎 apple.co/4j4YpYK 🟢 bit.ly/4h9ULuq ▶️ bit.ly/4rc7zVI

Octus 🤝 Harvey Through the Octus MCP Connector™, Harvey’s purpose-built agents can now tap into proprietary Octus credit intelligence and data across diligence, litigation and research. More context, built into the work. Learn more here: bit.ly/4xpM7hv