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French and travel names lead sell off as UK widens quarantine list
3 years ago
European credit is pushing wider at the end of the week, following the UK's decision to remove France, the Netherlands and other countries from its list of those safe to travel to without quarantine -
Nine bonds make list to settle Noble, positing 98-cent CDS pay out
3 years ago
Nine bonds are on an initial list of deliverable obligations to settle at auction CDS referencing Noble Corporation, the latest CDX HY index constituent to trigger a bankruptcy credit event -
Fund performance: Credit funds post double-digit gains
3 years ago
June returns have once again been led by CLO funds, as seven out of the top 10 belong to our CLOs category. -
Distressed to the nines: Noble joins CDX HY default tally
3 years ago
Noble Corporation, a US offshore drilling company, has triggered a bankruptcy credit event, the Americas Determinations Committee has ruled - making it the ninth default in the on-the-run CDX HY index -
Chesapeake deliverables point to big pay-out on CDS
3 years ago
An initial list of deliverable obligations to settle CDS referencing Chesapeake Energy Corporation at auction points to a pay-out of over 97 cents to protection buyers - higher than where five-year contracts are priced -
Chesapeake CDS auction date set
3 years ago
Dealers have set a date to settle Chesapeake Energy Corp CDS, in what will be the thirteenth credit event auction of 2020 -
California Res auction brings 99 cent problem for CDS protection sellers
3 years ago
An auction to settle CDS referencing California Resources Corp has settled at just 1.125 cents, meaning a 98.875 cents pay-out to protection buyers -
Ucits at a glance: Ucits recover lost ground
3 years ago
The foot has come off the gas for many funds - 57% of funds did not break the 2% return barrier. -
Chesapeake default takes CDS auctions to eight-year high
3 years ago
Chesapeake Energy has been confirmed as the latest CDX HY index constituent to require settlement at auction, after the Americas Determinations Committee ruled it has triggered a bankruptcy credit event -
Chesapeake bankruptcy points to hit for CDS and loan holders
3 years ago
Chesapeake Energy looks set to become the latest in a string of defaults to hit US high yield index CDX HY, after the Oklahoma City headquartered shale producer filed for chapter 11 protection -
California Resources auction set as CLOs hold loans and recoveries look low
3 years ago
The Americas Determinations Committee has set a date to resolve CDS referencing California Resources Corp, which has triggered a failure-to-pay credit event -
Bond selling pushes down Argentina CDS auction final price
3 years ago
An auction on Friday to settle Argentina sovereign CDS returned a final price of 31.5 cents, three points lower than initial bidding due to a large physical settlement interest to sell bonds -
JC Penney CDS pays near 100% to protection buyers
3 years ago
JC Penney CDS has settled at auction close to zero, lower even than the paltry recoveries indicated beforehand -
Argentina auction deliverables list points to lower recovery than CDS
3 years ago
Over 30 bonds have made it onto an initial list of deliverable obligations for an auction next week to settle Argentina sovereign CDS. These notes are mainly denominated in US dollars and euros, but some also in Japanese yen and Swiss francs -
Argentina triggers failure-to-pay credit event
3 years ago
Argentina has triggered a failure to pay credit event on its sovereign CDS, the Americas Determinations Committee has ruled -
Default cluster brings warning for recoveries and operations
3 years ago
The pace at which credit event auctions stacked up in May sent investors a strong warning to review default and recovery expectations, as well as to ensure operational readiness after years of benign markets -
Bankrupt Hertz runs out of gas with CLOs holding $245 million
3 years ago
CLOs hold $245 million of Hertz’ debt as the US-based car rental company drives into bankruptcy protection, with the coronavirus panedemic putting brakes on the Estero, Florida-headquartered's firm car rental operations -
Ecuador auction settles CDS at 34.9 cents
3 years ago
A credit event auction to settle Ecuador sovereign CDS produced a final price of 34.88 cents, closely reflecting where bonds had been quoted beforehand -
JC Penney becomes seventh bankruptcy credit event to hit index tranches
3 years ago
JC Penney has triggered a bankruptcy credit event, the Americas Determinations Committee has ruled -
JC Penney bankruptcy weighs on CLO and CDX HY baskets
3 years ago
CLO managers hold nearly $250 million of the debt of JC Penney, which filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas on Friday -
Magnetar wins $400 million for illiquid credit mandate
3 years ago
Los Angeles County Employees Retirement Association has allocated $400 million to Illinois-based Magnetar Financial at its 13 May board of investment meeting, according to recently released minutes -
DC sets Neiman Marcus CDS auction date
3 years ago
A credit event auction to settle Neiman Marcus CDS will be the fifth taking place this month -
CLOs on lookout as Neiman recovery signals slump and DC confirms credit event
3 years ago
Five-year CDS referencing Neiman Marcus widened by four points to 95.25 points up front, according to IHS Markit, as the Americas Determinations Committee confirmed the US retailer has triggered a bankruptcy credit event -
US retailer bankruptcy spells hit for CLOs and CDX HY tranches
4 years ago
US retailer Neiman Marcus's filing for chapter 11 protection opens the prospect of a fourth credit event in the CDX HY index and a sixth for on-the-run HY tranches, as well as a hit for CLOs -
Ares raises $3 billion special situations fund ahead of huge European direct lending launch
4 years ago
Ares Management has witnessed “accelerated fundraising” for its special situations fund, which it has closed at around $3 billion, according to the firm’s earnings calls. The firm also launched its fifth European direct lending fund this week, which Ares expects could be “the largest private comingled fund in its history”
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