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Relative to Airbus, Boeing was long accountants but short engineers
1 month ago
A qualitative approach can help investors spot boards that are too focused on short-term returns -
Paul Hastings hires Shearman & Sterling lawyer as partner in London
1 month ago
Paul Hastings has hired a new partner and restructuring and special situations attorney, the latest in a string of European restructuring hires for the firm -
Akin Gump hires Paul Hastings partner for private credit practice
2 months ago
The New York-based partner will join the growing special situations and private credit practice. -
CLO portfolios may need check-up as healthcare sector continues to deteriorate
3 months ago
Reimbursement challenges and high labour costs are expected to continue to drive restructuring activity among healthcare companies this year following a busy 2023. -
2023: a bumper year for CLO funds
5 months ago
It looks like 2023 will finish as a solid year for most credit funds, and an outstanding one for CLO funds. But funds pursuing corporate distressed strategies continued to struggle -
CLO market’s favourite sector struggles as wages rise and leverage bites
6 months ago
The most important sector for the US CLO market is showing increasing signs of trouble. According to CLO-i data, healthcare and pharmaceuticals represents the largest exposure for US CLOs. -
US CLO credit Air Methods Corporation files for bankruptcy
6 months ago
Air Methods Corporation, a widely held name in the US CLO market, filed for Chapter 11 this morning reporting USD 1bn to USD 10bn in liabilities. -
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 -
Fund performance
7 months ago
Positive August for credit sees CLO funds on top again -
Oaktree partners with Spire Capital for new special situations fund
Spire Oaktree Special Opportunities Fund will target Australian wholesale investors
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Brazilian distressed fund gains investor attention internationally
9 months ago
International investors continue to take note as Brazil's Jive Investments raises roughly half a billion dollars for fourth vintage of distressed and special situations fund. -
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 -
Envision Healthcare draws lawsuit from fourth out lenders
9 months ago
A group of “fourth out” lenders to Envision Healthcare have lodged an adversary complaint over its 2022 drop-down recapitalization and subsequent ‘uptier’ exchange -
Casino failure to secure requisite default waivers, non-payment of social security charges and taxes prompt questions on CDS triggers
10 months ago
Casino Group announcements that it failed to obtain the requisite consent from its bondholders and RCF lenders to effect a payment standstill and to waive any defaults for the duration of its conciliation proceedings and that it deferred payment of its tax and social security liabilities have led market participants to submit credit event requests to the Credit Derivatives Determination Committees (DC). -
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. -
LP round up: HPS wins $550m mandate as Ares launches third US direct lending fund
1 year ago
US institutional investors allocated nearly $3 billion to credit funds in April. The news comes amid a BlackRock survey in the month which showed significant investor interest in private credit -
Stress ticks up in CLOs as downgrades take triple C loans to over 5% of market
1 year ago
The percentage of the leveraged loan market rated triple C passed 5% in April and further expected downgrades are likely to push the figure over 7.5% in the coming months -
CLO funds make best of a bad situation
1 year ago
It can’t get any worse can it? Well, it did in 2022, when credit spreads kept moving wider. Still, CLO funds were able to withstand the pressure, and they outperformed other credit strategies -
Fund performance: European CLO funds lead the way
1 year ago
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January -
LP round up: opportunistic credit dominates as investors allocate $2.2 billion
1 year ago
US institutional investors invested at least $2.2 billion to credit funds in March, according to documents seen by Creditflux, with opportunistic credit funds dominating commitments -
Angelo Gordon wraps up fundraising for $1.3 billion credit dislocation fund
1 year ago
AG CSF2A (Annex) Dislocation Fund is an extension of the AG Credit Solutions Fund II, which held a $3.1 billion final close in April last year. -
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 -
Lights go out for Heritage Power with 120 CLOs left in the dark
1 year ago
US based power plant operator Heritage Power filed for chapter 11 bankruptcy in the bankruptcy court of Texas on Tuesday night, impacting $124.45 million of assets held by 120 US CLOs. -
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.
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