Refine Search
Article Categories
Strategy Tags
- High yield bonds (remove)
- Investment grade credit (10)
- Structured credit (1)
- CLO (1)
- Distressed debt (16)
- Leveraged loans (1)
- Synthetic/SRT (27)
Geography Tags
-
German firm takes big hit even as most of Europe gains ground
2 years ago
Adler was an outlier in Thursday trading as it bucked overall market improvement following the collapse of a deal to sell shares in a subsidiary. But the Bank of England soon took the shine off credit sentiment in any case -
Talen bond squeeze brings low auction pay-out for protection holders
2 years ago
A credit event auction to settle Talen Energy Supply CDS has delivered a much higher result than had been predicted from bond prices, fuelled by a bidding squeeze on deliverable paper -
Earnings wait puts German firm’s investors in real state
2 years ago
The credit market’s brief relief rally on Thursday morning has given way to a resumption of the bearish run, with one European high yield borrower entering dangerous territory and Tesla coming under pressure in US credit after its share price took a hit -
US high yield outperforms as credit adds to rally
2 years ago
French equipment rental company Loxam is among the biggest movers as credit markets rally for a second day, but US high yield is having the better week -
French airline flies against flock on pandemic repayment plans
2 years ago
Air France is a standout improver on Thursday against a backdrop of broad deterioration in single name credit spreads -
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 -
German real estate co hits new wides as single names catch up with index rout
2 years ago
Adler Real Estate is again one of the biggest movers in the European credit market, as the week comes to a bearish close and October begins with heightened uncertainty -
Healthcare M&A offers diverging prognoses in high yield as market recuperates
2 years ago
Grifols, the Spanish healthcare business, is making a push wider at odds with rallying markets, having brought €2 billion equivalent of bonds to back its acquisition of European plasma player Biotest -
French food producer gets cold shoulder following bond issue
3 years ago
Picard, the French frozen foods producer, is one of the biggest movers in the European high yield market on Monday, after investors showed little warmth for its new bond issue in the secondary market -
It's all relative: CLO spreads explore record tights as credit indices hit impasse
3 years ago
CLO spreads are grinding to ever tighter levels, despite a flattish week for credit in which corporate credit indices have ended up more or less unchanged -
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 -
Nine bonds make list to settle Noble, positing 98-cent CDS pay out
4 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 -
Chesapeake deliverables point to big pay-out on CDS
4 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 -
California Res auction brings 99 cent problem for CDS protection sellers
4 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 -
Diamond deliverables point to 89 cents pay-out on CDS
4 years ago
An auction to settle CDS referencing Diamond Offshore Drilling looks set to have four deliverable obligations, all of which are quoted around 11 cents -
HY tranche traders face another cut as Diamond hits the rough
4 years ago
US high yield index CDX HY has suffered its third constituent credit event in a month, after Diamond Offshore Drilling filed for chapter 11 protection in the Southern District of Texas. This is also the fifth default to hit on-the-run CDX HY tranches -
Whiting initial list points to 90 cent CDS pay-out
4 years ago
Four bonds have made it onto an initial list of deliverable obligations for an auction to settle CDS referencing Whiting Petroleum, which triggered a bankruptcy credit event earlier this month -
Credit markets rally, but hopes rest on US stimulus vote
4 years ago
Credit spreads are rallying back today, along with other financial markets, as hopes rise the US congress will agree a massive fiscal stimulus package and other governments in major economies echo a "whatever it takes" line to combat the coronavirus outbreak -
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 -
Credit traders' kickstand: this is not a drill
4 years ago
Freefall in financial markets has brought one of the credit market’s most volatile sessions on record, as coronavirus cases globally near 100,000 and the WHO has warned governments are not doing nearly enough. iTraxx Crossover one-day volatility is up with the 2008 global financial crisis and 2011 European sovereign crisis -
McClatchy bonds point to 50 cent CDS pay-out as auction deliverables finalised
4 years ago
McClatchy CDS in on course to pay out around 50 cents, based on cheapest bonds to deliver, after the Americas Determinations finalised five deliverable obligations for the media company’s credit event auction next week -
McClatchy initial list points to 48 cent CDS pay-out
4 years ago
McClatchy CDS looks set to pay out around 47.5 cents to protection holders, if bonds on an initial list of deliverable obligations for the media company’s credit event auction make it to the final list -
CDS takes brunt of coronavirus panic sell-off
4 years ago
European credit derivatives are among the hardest hit assets today amid a broad sell-off, as the fast spread of the coronavirus into Italy, Korea and Iran has brought a reappraisal of the impact it could have on financial markets -
Credit traders’ kickstand: weaker mood, but primary drive strengthens
4 years ago
The primary market for high yield bonds is open again, after a pause around the US holiday on Monday, with issues in Europe today from the likes of SIlgan and Catalent striking a bullish tone and setting the scene for an expected flurry of deals next week. But this comes as credit generally weakens, with concerns about the spread and reappraisal of coronavirus cases causing spreads to push back from their recent tights
Want all the latest news, comment, analysis and data?