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As the inverted yield curve (and Arindam) had forecasted in 2021, Talen couldn't keep going with unchanged capital structure so several legal entities ended up filing. I had limited exposure... but actually ended up in the black significantly thanks to favorable prices paid and then some of the swings leading up to and post-default. Last I checked, recovery on unsecureds was projected to be quite significant much to surprise. Interesting, learning experience!
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