- Direct lending (28)
- Emerging markets (3)
- High yield bonds (31)
- Investment grade credit (13)
- Structured credit (7)
- CLO (10)
- Distressed debt (6)
- Credit derivatives (52)
- Leveraged loans (21)
Ares fined $1 million by SEC over 'misuse of non-public information'1 day ago
Ares Management has been fined $1 million by the US Securities and Exchange Commission in a settlement surrounding compliance failure relating to a portfolio company
Fed expands Main Street direct lending scheme but it's unlikely to help CLOs28 days ago
The US Federal Reserve Board has expanded the scope of its Main Street Lending Programme following more than 2,200 letters of feedback. Under the third loan facility, lenders will hold 15% of the loan to borrowers with greater leverage
Fed to publish information on borrowers making use of the talf programme1 month ago
The US Federal Reserve will disclose information about borrowers making use of its emergency facilities
SEC proposes new fund valuation framework1 month ago
The US Securities and Exchange Commission has proposed a new framework for funds to determine fair value for assets for which market quotations are not readily available, which it says will "improve valuation practices and thereby protecting investors and improving market efficiency, integrity and fairness"
SEC temporarily relaxes regulations for BDCs1 month ago
The US Securities and Exchange Commission has provided business development companies with temporary relief in light of covid-19 - including the ability of BDCs, who are unable to satisfy asset coverage ratios, to use an alternative form of calculating leverage
Fed commits $600 billion to SMEs in Main Street Lending facility1 month ago
The US Federal Reserve has committed to buy up to $600 billion in loans to small and medium-sized businessness through its Main Street Lending Programme. The programme will sit alongisde the existing Payroll Protection Program (PPP), a separate facility exclusively for small businesses
Trade body asks US government to show it CARES about BDCs1 month ago
The US federal stimulus maintains existing regulations that exempt portfolio companies from accessing the stiumulus funds. The Institutional Limited Partners Association wants to change that
Delay on derivatives phase five initial margin roll-out is vital, says Isda2 months ago
Regulators must agree to delay the roll out of the next initial margin phase because of the coronavirus pandemic - and notify the market soon, the International Swaps and Derivatives Association has said in a letter signed by 21 trade associations
SEC relaxes borrowing rules for funds affected by covid-192 months ago
The US Securities and Exchange Commission has granted registered funds temporary relief and flexibility to borrow capital from affiliates and enter into lending arrangements as they address the impacts of covid-19 on their portfolios
Managers face ESG disclosure pressure under ‘ambitious and demanding’ EU regulations3 months ago
New rules finalised by the European Union will shake up the way managers approach environmental, social and governance investing, sources say. The ambitious initiative is relevant for funds which have a specific ESG mandate — but will also be applicable to firms without an express ESG or sustainability focus.
BDCs feel squeeze on liquidity as SEC rejects plea for relief3 months ago
Sources say that the chances of relief being granted to business development companies over the acquired fund fees and expenses (AFFE) rule are slim. Last month, industry body Coalition for Business Development stated optimistically that the “harm caused by the AFFE disclosure can be remedied in the final fund of funds rules”.
Credit event protocol goes into force with 60 extra sign-ups4 months ago
The International Swaps & Derivatives Association is going live today with a protocol aimed at stamping out narrowly tailored credit events from the CDS market, having signed up 1,358 entities
Four days left to join narrowly tailored credit event protocol4 months ago
Those market participants yet to sign up to the International Swaps & Derivatives Association’s protocol on narrowly tailored credit events have until Friday to do so
Deadline just hours away for CDS users to sign Isda protocol6 months ago
Midday New York time is the cut-off for market participants to sign up to the International Swaps & Derivatives Association’s protocol aimed at stamping out narrowly tailored credit events from CDS
Over 1,200 sign up to CDS protocol6 months ago
Plans to improve CDS market integrity have received a boost, with the International Swaps & Derivatives Association drawing a stronger than expected response to its protocol aimed at stamping out narrowly tailored credit events (NTCEs).
FisherBroyles hires derivatives and regulations specialist as partner6 months ago
FisherBroyles, an Atlanta headquartered law firm, has hired derivatives and securities specialist Julian Hammar as a partner in its New York and Washington, DC offices
CDS traders get second extension on narrowly tailored credit event protocol7 months ago
The International Swaps & Derivatives Association has extended for a second time the deadline for market participants to adhere to a protocol aimed at stamping out narrowly tailored credit events from the CDS market
Traders face Monday deadline for manufactured credit event protocol7 months ago
Interested parties have until Monday to sign up to a protocol aimed at stamping out narrowly tailored credit events from the CDS market, with the International Swaps & Derivatives Association having given extensions on the original deadline
Anti-CDS tactics enter European bond market as high yield pipeline builds7 months ago
‘Anti-net short’, or ‘anti-CDS’, provisions are set to enter the European corporate bond market for the first time, as Merlin Entertainments and Kantar wrap up roadshows for deals financing their acquisitions by private equity firms
LCH and Ice prepare to battle it out over options clearing7 months ago
A fully cleared market for CDS options is getting closer, with the two largest central clearing counterparties (CCPs) set to expand their services.
Narrowly tailored event protocol set to go live in weeks7 months ago
Investors have until 14 October to sign up to an Isda protocol aimed at stamping out narrowly tailored credit events (NTCEs) from the CDS market.
Guidelines fail to assuage fears over loose reporting standards8 months ago
The Chartered Financial Analyst (CFA) Institute’s new hedge fund reporting guidelines come into play next year, but some say they fall short of a much-needed overhaul.
Esma publishes final guidelines for alternative and Ucits fund liquidity stress-test8 months ago
Fund managers have just over a year to comply with liquidity stress test final guidelines published yesterday by the European Securities and Markets Authority (Esma) for alternative investment funds (AIFs) and undertakings for the collective investment in transferable securities (Ucits)
LCH's French unit adds first Japanese clearing member8 months ago
Mizuho has signed up as the first Japanese clearing member of LCH SA, the French clearing unit of London Stock Exchange-owned LCH Group
Big questions for CDS shorters as Isda protocol countdown begins9 months ago
With only a month to go until the International Swaps & Derivatives Association rolls out its protocol for narrowly tailored credit events, big net buyers of CDS protection should think hard about both its value and maintaining liquidity, says law firm Kramer Levin
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