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Public Pensions, Private Pursuits: 5th-9th July 2024
1 month ago
Florida, Wisconsin, and Vermont pension systems disclosed new private credit commitments, while the New York State (NYS), New Mexico, and Alameda County, California funds planned future mandates -
iHeart secured group advisors in confidential talks with company
1 month ago
iHeartMedia, still an important name in the US CLO market, is back in the news, potentially impacting 482 different CLOs -
Connecticut pension allocates USD 300m to Oaktree’s distressed credit fundraising
2 months ago
Connecticut pension system commits to Oaktree latest flagship distressed credit fund -
Global Loan Highlights 1Q24: Don’t call it a comeback
5 months ago
Loan refinancing share hits historic high, but IG issuance stymies YoY global growth -
Dallas retirement system allocates USD 60m to credit funds
7 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 -
Connecticut Retirement Plans and Trust Funds commits more than USD 600m to credit manager
8 months ago
Connecticut Retirement Plans and Trust Funds has allocated approximately USD 625m to pension funds in the state's private credit portfolio -
Private credit investors hail ‘golden age’ of rapid growth and low regulation
10 months ago
The “golden age” of private credit has arrived as investors take market share from banks, according to Scott Rosen, partner at Ares Management -
Lumen Technologies ad-hoc group preps competing proposal
10 months ago
The refinancing of Lumen Technologies, currently held by 1311 different CLOs with a combined principal balance of USD 3.8bn, took a new twist today as details of a competing proposal emerged -
Private credit's 'golden age'
10 months ago
The "golden age" of private credit has arrived, according to speakers at the IMN's ABS East 2023 conference -
T. Rowe and Oak Hill launch new BDC
11 months ago
The BDC is another indication of the growing demand for access to private credit funds from individual investors -
Loan Highlights 2Q23: Running aground
1 year ago
The global loan market endured a bleak first half of the year, with the overall 1H23 volume falling 28% year-on-year (YoY) to $1.9 trillion, the lowest showing since 2012. -
Egypt works its Sharm on credit markets
1 year ago
Egypt looks to be reaping the benefits of hosting the Cop 27 climate summit in Sharm el-Sheik, with the country’s credit spreads on a sharp rally this week -
Nassau launches CFO backed by fund LP interests
1 year ago
Nassau Alternative Investments has launched its second collateralised fund obligation -
Russia CDS auction deliverables list takes shape after sanctions licence
2 years ago
Russian Federation bonds cleared by Euroclear may be the only deliverable obligations to settle sovereign CDS contracts referencing the country, the Emea Determinations Committee has said, although it is also considering Clearstream listed bonds as it moves forward with preparations for a credit event auction -
Russia triggers failure-to-pay credit event
2 years ago
The Russian Federation has triggered a failure-to-pay credit event on sovereign bonds, the Credit Derivatives Determinations Committee has ruled – marking an historic moment that caps off a long run of deliberations on the country’s international debt since it invaded Ukraine on 24 February -
Russia looks to avoid default as deliverable list points to 27-cent recovery
2 years ago
The Credit Derivatives Determinations Committee has published a preliminary list of bonds it deems deliverable into Russian Federation CDS contracts, even though reports suggest Russia may have avoided default with just one day left on the country's grace period for overdue international bond payments -
Credit rallies on Fed and BofE rates signals, but starting gun fires on tapering
2 years ago
Credit and equity markets have responded well to the US Federal Reserve unveiling much anticipated plans to begin tapering asset purchases, while vouching it will stay patient on hiking interest rates. The Bank of England followed this on Thursday by holding its rates at 0.1% -
US debt talks and German real estate regain composure after damaging wrangles
2 years ago
Adler Group is ending on a firmer footing what has been a rocky week for the German real estate company, as credit heads into the weekend unmoved by developments in the US on raising the country's debt ceiling -
CDX HY roll calculations shift as new name change added
3 years ago
A sixth CDX HY constituent change has been added to the provisional list for the index's roll on Monday from series 35 to 36 -
CDX HY to include name with no CDS as new liquidity rules shape portfolio
3 years ago
Changing name selection criteria for the CDX HY is set to produce an unusual result at the forthcoming roll into series 36, with one borrower constituent entering the index that as yet has no CDS attached -
Ensco CDS leap wider on credit event trigger
4 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 -
Frontier bankruptcy dials up pressure for 90 CLOs
4 years ago
Nine CLO managers hold $217 million of Frontier Communications’ debt across 90 CLOs, as the telecommunications company filed for Chapter 11 protection in the US Bankruptcy Court Southern District of New York -
Financials lag as credit rallies on Chinese manufacturing pick up
4 years ago
Credit market improvement has continued this morning on signs of Chinese economic recovery, after the rally in spreads resumed yesterday afternoon in Europe and throughout most of the US session -
US pension to cut long-term private markets pacing plan by 10%
4 years ago
The Educational Employees' Supplemental Retirement System of Fairfax County is considering reducing its 10-year private markets pacing plan commitments by around 10%, according to board documentation seen by Creditflux -
McClatchy whacks out killer headline as CDS pays 98 cents
4 years ago
A month ago, when US newspaper company McClatchy triggered a bankruptcy credit event, sellers of CDS protection may have consoled themselves they were only looking at paying out around 27 cents on the contracts. But yesterday’s credit event auction set the final price at just two, meaning a whopping 98 cent windfall for protection buyers
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