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US and Europe divide honours between HY and IG as market rally extends
1 year ago
A second straight day of improvement is adding to this week’s gathering rally, but while US high yield is outperforming European the reverse is true in investment grade -
Russia credit event auction starts to firm up as DC mulls settlement options
1 year ago
Russian Federation sovereign CDS will be settled in the first half of September, the Credit Derivatives Determinations Committee has said. But settlement restrictions still require further discussion -
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 -
Dealers gear up to settle first CDS auction of 2022
1 year ago
A credit event auction this week to settle Talen Energy Supply CDS will have 13 deliverable obligations, with the Credit Derivatives Determinations Committee having published its final list -
Talen Energy CDS deliverables list shortens on lack of docs
1 year ago
A credit event auction next week to settle Talen Energy Supply CDS could have fewer deliverable obligations than previously indicated, with three from the preliminary list not having made it onto the Determinations Committee’s initial list -
Dealer list builds for year's first credit event auction
1 year ago
A credit event auction next week to settle Talen Energy Supply CDS contracts looks set to have 10 participating dealers, with two banks having been added to the regular list -
Talen credit event auction deliverables point to 47 cent recovery
1 year ago
Talen Energy Supply’s credit event auction looks set to have 16 bonds deliverable, including senior unsecured notes that are priced much lower than its senior secured, according to a preliminary list published by the Americas Determinations Committee -
CLO managers in the mix for first US credit event auction since 2020
1 year ago
CDS contracts referencing Talen Energy Supply will be settled by credit event auction next month. And Talen's recovery levels will have relevance for a number of CLO managers that have held onto the company's debt - in some cases having bought more very recently -
Fund performance: Credit bounces back from February blues
2 years ago
March performance figures were a slight improvement from the market turn in February; 47% of funds made positive returns, an increase on 17% the previous month -
German real estate firm leads way as credit makes another lurch tighter
2 years ago
Adler, the German real estate investment group, is among the outperformers in Friday's rallying credit market, despite an audit by KPMG having been unable as yet to refute allegations made against the company -
AlbaCore adds distressed hire among raft of new arrivals
3 years ago
AlbaCore Capital Group has added four hires to its investment team in recent weeks, taking its total headcount to 46 -
Financials lead as credit opens 2021 with optimism
3 years ago
Financial credits, and particularly banks, are among the big movers today with the market having opened 2021 in buoyant mood following agreements on a Brexit deal and US stimulus package -
ECB stimulus hopes bolster high yield outperformance
3 years ago
Spread compression has picked up again, with European high yield taking the lead as expectations mount for another round of European Central Bank stimulus at its meeting next week -
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 -
Fund performance: Almost a third of credit funds reach positive YTD returns
3 years ago
July has been a successful month for many credit funds, despite the recovery peaking in May and June -
Valaris and Ensco posed to DC as bankruptcy credit events
3 years ago
Valaris and its subsidiary Ensco International Incorporated have been proposed to the Americas Determinations Committee as bankruptcy credit events after the group filed for chapter 11 protection in August -
Credit fundraising: distressed keeps in favour but CLO ETFs emerge
3 years ago
Five months into global lockdown and distressed debt funds are still proving popular, but several managers have found success pitching other types of credit strategies -
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. -
DC rejects Valaris credit event request
3 years ago
The Americas Determinations Committee has rejected a request to rule on whether UK headquartered offshore driller Valaris has triggered a restructuring credit event -
Bond and CDS surge caps remarkable chicken run for Boparan
3 years ago
Boparan, the UK-based restaurant group and chicken supplier, has surged tighter in bonds and CDS today, capping a remarkable turnaround in recent months for a company that had long been one of the riskiest in the European high yield universe before the coronavirus outbreak -
Fund performance: CLO tranches move up
3 years ago
April returns managed a partial bounce back after a tumultuous March. 82% of funds listed in the Creditflux database made positive returns, showing at least small signs of recovery after 90% of all funds listed posted negative returns in March -
CDX HY and tranches hit as Whiting protection buyers win big pay-out
4 years ago
Whiting Petroleum CDS have settled at a final price of just seven cents, meaning a 93 cents pay-out to buyers of protection on the Denver headquartered exploration firm -
Ecuador CDS gaps tighter as it heads to credit event auction
4 years ago
CDS referencing Ecuador sovereign bonds are rallying sharply, just as the Americas Determinations Committee set a date for them to be settled at a credit event auction -
Weatherford CDS auction delivers 55.5 cent pay-out to protection buyers
4 years ago
A credit event auction to settle Weatherford International CDS returned a final price of 44.5 cents on the dollar, lower than where bonds had been quoted and meaning a pay-out to protection buyers of 55.5 cents -
Illiquid credit boost returns for PensionDanmark
5 years ago
PensionDanmark has generated 5.8% returns from its illiquid credit portfolio for the year 2018, according to its latest annual report published today. But its liquid credit portfolio took a 3.4% hit
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