APS Capital

Trading & Execution

Our professionals focus on bringing insight and product to the distressed debt markets. We have an ability to spot value, create interest in overlooked ideas, and provide liquidity in the challenging environment of private debt trading.

Our professionals create lasting relationships with clients. We understand client needs and offer innovative solutions for complex issues.

Our trading platform identifies quality investments and promotes liquidity in a market characterized by limited price and volume transparency. Our proprietary sourcing, due diligence and trading protocols are unique and highly advanced.

Our two core services in this area are the trading of Trade Claims and Bank Debt.

Trade claims are private debt instruments representing a pre-petition claim on a Debtor’s estate. Section 101(5) of the Bankruptcy Code defines a “claim” as a right to payment, or right to equitable remedy for breach of performance if such breach gives rise to a right of payment. Claims can arise from a variety of pre-petition liabilities, including pre-petition accounts payable, rejected contracts, rejected leases, deficiency claims, and pension underfunding.

Bank debt (and syndicated loans in particular) is a bridge of sorts between private and public debt markets, it has emerged as an alternative to high-yield bonds, and in so doing has widened and deepened access to capital in the developed markets. Bank debt is typically secured by substantially all of a borrower's assets and is senior to all other debt in the capital structure. Thus, holders of bank debt normally have priority over the claims of most or all other creditors and in theory, must be repaid in full before the claims of junior debt holders (including trade claims and bonds) are satisfied.

View a list of our Active Cases

If you'd like to discuss your specific needs in this area, contact us.