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Oaktree raises roughly USD 3bn for third special situations fund
5 months ago
Oaktree upsizes third fund that primarily invests in stressed or distressed US middle-market companies -
Resignation of Texas bankruptcy judge David R Jones raises potential for vacating prior rulings in legacy cases
7 months ago
Debtwire's full breakdown of the situation explains all the details of a resignation that threatens chaos for both active and historic restructurings, including cases like J.C. Penney and Neiman Marcus -
RiverRock secures €153 million in commitments for new senior loan fund
RiverRock sets €1 billion commitment target for latest fund, nearly double the size of its previous vintage
8 months ago -
Retail maintains primacy as most distressed sector in Europe with €31 billion of debt restructuring commenced in 1H23
9 months ago
Newly commenced restructurings tracked by Debtwire in Europe during 1H 2023 show 114 mainly large-cap restructurings, compared to 89 tracked in 1H 2022, a 28% increase year-on-year -
Recent US bankruptcies show non-DIP lenders wiped out
10 months ago
A trio of recent US bankruptcies is testing the CLO market's recovery assumptions, according to Debtwire’s Restructuring Database of recent court filings. -
CLOs hit by bankruptcy of Envision as zero recovery predicted for first lien loans
11 months ago
Envision has joined the growing number of companies to have filed for Chapter 11 bankruptcy. The emergency medical services company, which has been owned by KKR since 2018, announced on 15 May that it was entering a restructuring support agreement. -
Serta Simmons makes its bed again with default leaving CLOs with a restless night
1 year ago
$172.5 million of CLO assets defaulted on Monday after Serta Simmons Bedding filed for chapter 11 bankruptcy. -
Beneath the triple C: Life could be better, but it’s just a letter, under the CCC
1 year ago
Many market participants were eagerly looking forward to a break in December after a gruelling year, but the rating agencies were in no mood to oblige. -
Fund performance: Light at the end of the tunnel for credit funds after difficult year
1 year ago
Following a tough September, credit funds bounced back in October as 59% of funds made positive returns. -
Beneath the triple C: Stormy October hits CLOs with rising tide of downgrades
1 year ago
After a slight respite in the pace of downgrades over the summer for CLOs, October brought renewed momentum as macro-economic pressures - primarily high interest rate burdens for corporate borrowers and supply side inflation - became the recurring rationale -
Nerves of steel needed for CLOs as Phoenix Services files for chapter 11
1 year ago
CLOs hold $341.54 million of steel service provider Phoenix Services Topco which filed for chapter 11 protection in the US Bankruptcy Court for the District of Delaware yesterday -
Beneath the triple C: US CLOs take a dip in the triple C as Europe watches from the sun lounger
1 year ago
The US CLO market bore the brunt of downgrades to triple C in July and August, with a total of $6.22 billion of paper affected. European CLOs enjoyed a more relaxing summer holiday, with only 1 name representing €33.88 million worth of bonds downgraded to triple C. -
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 -
Chinese real estate hit for six as Powerlong triggers credit event
1 year ago
Powerlong Real Estate Holdings has triggered a credit event, the Credit Derivatives Determinations Committee has ruled – taking the stack of Chinese housing sector contract defaults to six since December -
Beneath the triple C: ebbs and flows leave triple C levels at a temporary stasis
1 year ago
Following a rising tide of downgrades in May the loan market stabilised somewhat in June, with seven issuers held by CLOs downgraded to triple C and a counter-swell of five names upgraded to single B. -
LP round up: 28 credit managers win $6.6 billion as San Diego carves private credit allocation
1 year ago
Pensions allocated over $6.6 billion to credit managers in June including Angelo Gordon, Antares, Apollo, Ares, Beach Point, BioPharma, Brookfield, CarVal, Cerberus... -
Internet company triggers restructuring credit event at third time of asking
1 year ago
Yandex, the multinational internet and search engine company that predominantly serves Russian and Russian language users, has triggered a restructuring credit event -
Beneath the triple C: CLOs take first knock since covid scrapes
1 year ago
CLO managers have been hit by a number of loan downgrades to triple C for the first time since the wave of pandemic-related cuts trickled to a halt in early 2021. Companies indirectly linked to the health sector suffered most in May -
DC rejects Yandex credit event question
1 year ago
Yandex will not be weighed as a credit event, with the Credit Derivative Determinations Committee having rejected the query it received on the matter -
German real estate co volatility spikes after auditor refuses earnings sign off
2 years ago
Adler Group has hit new levels of volatility in financial markets after auditor KPMG refused to certify the company's full-year 2021 results and board members offered their resignations -
Sovereign in scope as Russian Railways triggers first Ukraine-linked credit event
2 years ago
Russian Railways had triggered a failure-to-pay credit event, the Credit Derivatives Determinations Committee has ruled, making this the first sanctions-related credit event since Russia's invasion of Ukraine in February -
Russia debt repudiation / moratorium question lands with Determinations Committee
2 years ago
The Russian Federation looks to be edging closer towards triggering a credit event, having been referred to the Credit Derivatives Determinations Committee for a 'potential repudiation / moratorium' on its bonds -
LP round up: Fidelity wins big, Pacific retains loan mandate, pensions eye distressed
2 years ago
The month also included one CLO fund commitment, one high yield manager search, one finalised US loans mandate and one $400 million multi-sector fixed income managed account mandate -
Saipem near-term default risk spikes following Moody's downgrade
2 years ago
Saipem's CDS curve has inverted precariously to reflect the company having become the most likely near-term default in the iTraxx Crossover index -
Fund performance: Wasserstein's early 2021 performance drives it to the top
2 years ago
The final top 10 of 2021 featured a variety of funds as five different strategies were ranked among the best. US high yield was the most highly represented with two BlackRock funds and an Angel Oak in the top 10
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