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Fund performance: Credit funds end difficult 2022 on a positive note
1 year ago
In December 66% of credit funds reached a positive return, following an even better November where 81% of all funds pushed into the black -
Fund performance: Select funds shine in dreary June for credit hedge funds
1 year ago
Credit funds suffered through June, as only 8% of listed funds reached the black. This made June the fourth month in a row in which negative returns increased -
Retailers, travel cos and Italian banks lead charge as market rally accelerates
2 years ago
Retail companies have been resurgent on Thursday as the credit market’s relief rally gathered pace, with Europe seeking to catch up with the US following its strong surge -
CLO managers in the mix for first US credit event auction since 2020
2 years 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 -
Traders hunt for Monday bargains in Black Friday debris
2 years ago
The turmoil of Black Friday has given way to a counter-wise move on Monday, with financial markets latching onto scraps of hope over the weekend following the panic of a newly discovered covid-19 variant -
Renewed energy boosts credit as relief rally resumes
3 years ago
Energy companies are performing well and credit indices have resumed their push tighter after a strong surge inwards Monday, outpacing moves in other parts of the financial market -
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 -
Noble Corp auction date set as low recoveries stack up
3 years ago
The Americas Determinations Committee has set a date to settle CDS referencing the offshore driller, which looks set to follow Chesapeake Energy as the latest in a run of big pay outs for protection buyers -
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 -
Banks and high yield corps lead charge as results prompt European rally
3 years ago
High yield corporate credit is today's outperforming part of the market as European credit rallies back from its recent wides, as the latest round of earnings proves stronger than many had expected -
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 -
California Res deliverables list points to 98 cents CDS pay-out
3 years ago
Three bonds have made it onto the final list of obligations to settle CDS referencing California Resources Corp, which triggered a failure-to-pay credit event earlier this month -
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 -
Tale of two defaults as JC Penney and Hertz recoveries diverge
3 years ago
A credit event auction to settle JC Penney will take place today, with the pay-out to CDS protection buyers looking likely to be the highest for over a year - a tall order given the paltry recoveries of recent US high yield defaults -
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 -
Frontier triggers credit event but HY equity tranches outperform
4 years ago
Frontier Communications has triggered a bankruptcy credit event, the Americas Determinations Committee has confirmed. This is the fourth credit event to hit recently off-the-run index CDX HY series 33, on which on-the-run index tranches are based and for which recoveries have so far been very low -
Equity tranche hits stack up with Frontier Communications bankruptcy
4 years ago
One of the longest anticipated credit events in the US high yield universe appears to have come to pass, with Frontier Communications filing for chapter 11 bankruptcy protection -
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 -
45% of insurers look to increase private debt allocations, finds Natixis IM survey
4 years ago
Private debt allocations are expected to grow for 45% of insurers over the next three years, according to a recent survey by Natixis Investment Management. But regulation and internal restrictions are the biggest challenges to greater adoption of private markets allocation -
Thomas Cook is a lesson for CLOs on unsecured bonds, says TwentyFour AM
4 years ago
The liquidation of UK travel operator Thomas Cook this week has underscored that “unsecured debt has no place in CLOs,” according to a note by Aza Teeuwen, portfolio manager at TwentyFour Asset Management -
Weatherford faces credit event auction with 50% area recoveries implied
4 years ago
The Americas Credit Determinations Committee has agreed to hold an auction to settle CDS referencing Weatherford International, having ruled last week the Houston headquartered oilfield services provider had triggered a bankruptcy credit event -
Blackstone grows credit assets by 31% over year
5 years ago
The firm achieved strong fundraising in credit, taking credit-related assets under managment to $130.6 billion in the third quarter, a 31% increase year-on-year
22 results found Showing page 1 of 1
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