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Akin Gump hires Paul Hastings partner for private credit practice
1 month ago
The New York-based partner will join the growing special situations and private credit practice. -
Dallas retirement system allocates USD 60m to credit funds
2 months ago
The Dallas Employees' Retirement Fund has allocated USD 60m to three separate credit funds as the Texas-based system grows its allocations to private credit and distressed debt -
Proskauer poaches pair of credit partners from Milbank
2 months ago
Proskauer Rose continues to build out its team with the addition of Eric Reimer and Gayle Berne as partners in the global finance practice -
CLO portfolios may need check-up as healthcare sector continues to deteriorate
2 months ago
Reimbursement challenges and high labour costs are expected to continue to drive restructuring activity among healthcare companies this year following a busy 2023. -
Oaktree raises roughly USD 3bn for third special situations fund
4 months ago
Oaktree upsizes third fund that primarily invests in stressed or distressed US middle-market companies -
Florida pension system allocates to three alternative funds
4 months ago
Three funds received commitments from the City of Hollywood Employees' Retirement Fund including an opportunistic credit fund and a direct lending fund -
US CLO credit Air Methods Corporation files for bankruptcy
6 months ago
Air Methods Corporation, a widely held name in the US CLO market, filed for Chapter 11 this morning reporting USD 1bn to USD 10bn in liabilities. -
DebtDynamics North America: Likely-to-distress scores highlight struggling industries
9 months ago
Out of a universe of more than 12,000 leveraged US companies, 180 are in the stressed/distressed lifecycle categories -
Fitch raises low end of its default forecasts for US leveraged loans and high yield
1 year ago
Fitch Ratings has increased the low end of its US leveraged loan and high yield default forecast ranges to reflect growing macroeconomic headwinds -
Not every CLO can be a winner
The CLO industry has undeniably performed well enough to justify the plaudits it receives. But there will always be some unloved CLO tranches that slip into triple C territory -
Cineworld buys ticket for DIP facility with chapter 11 filing
1 year ago
Cineworld filed for Chapter 11 in the US Bankruptcy Court For The Southern District Of Texas on Wednesday, less than a month after the UK-based cinema operator announced Chapter 11 was among the options it was considering to “achieve its restructuring objectives” -
Lumileds trips chapter 11 fuse, causing CLOs to suffer another default
1 year ago
CLOs hold $596 million debt of lighting manufacturer Lumileds, which filed for Chapter 11 protection in the United States Bankruptcy Court Southern District Of New York on Monday -
Russia auction prep on pause after last minute scramble
2 years ago
The Credit Derivatives Determinations Committee has put on pause its preparation for a credit event auction to settle Russian Federation CDS, amid reports the country has made good on sovereign debt payments right at the wire -
Russia extends rally as DC rules against repudiation / moratorium
2 years ago
Russian Federation CDS contracts rallied strongly for a second day on Thursday, after the Credit Derivatives Determinations Committee ruled a repudiation / moratorium had not occurred on the country's sovereign debt -
Europcar auction faces challenge with tight turnaround
3 years ago
The Emea Determinations Committee has little time to settle a challenge on Europcar Mobility Group deliverable obligations if an auction to settle CDS contracts referencing the defaulted French vehicle hire firm is to take place on time this week -
Europcar posed as failure to pay credit event
3 years ago
Europcar Mobility Group has been proposed to the Emea Determinations Committee as a failure to pay credit event, following the French vehicle hire firm's announcement of a financial restructuring -
Zambia triggers failure to pay credit event
3 years ago
The Republic of Zambia has triggered a failure-to-pay credit event, he EMEA Determinations Committee has ruled -
Selecta CDS auction date set with revised deliverables process
3 years ago
The Emea Determinations Committee has set a date later this month to settle Select Group CDS and has notified a change to its rules for choosing deliverable obligations -
Selecta splashes CLOs with bankruptcy credit event
3 years ago
Selecta Group has triggered a bankruptcy credit event, the Emea Determinations Committee has ruled -
Tranche traders smell the coffee as Crossover default percolates
3 years ago
Selecta Group looks set to become the third European credit event in as many months to hit series 33 of the iTraxx Crossover index and tranches based on series 32 -
Europcar slumps closer to default pricing in bonds and CDS
3 years ago
Europcar, the French car hire firm, is heading fast towards recovery-only levels with CDS and bond prices reflecting deeper distress -
Matalan auction initial bids point to lower than expected CDS pay out
3 years ago
Early bidding in a credit event auction today to settle CDS referencing UK retailer Matalan indicates the final result will be higher than predicted by recent five-year quotes but roughly in line with modelled recoveries -
Europcar restructuring plans send bonds and CDS into skid
3 years ago
Europcar Mobility Group's bonds have plummeted and CDS referencing them have gapped wider after the French car hire firm said it will open talks with creditors about a debt restructuring -
Hema and Matalan deliverable lists outline payouts for CDS
3 years ago
Only one bond looks to be deliverable into a credit event auction to settle Hema CDS contracts, while two notes will be deliverable into Matalan CDS contracts -
Ensco CDS leap wider on credit event trigger
3 years ago
CDS contracts referencing Ensco International, a Houston based subsidiary of offshore driller Valaris, have shot wider after the Americas Determinations Committee ruled the company has triggered a bankruptcy credit event
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