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KKR deploys 10% of $2 billion coronavirus dislocation credit fund
3 years ago
KKR Credit has plans to launch a $2 billion dislocated corporate and asset backed credit fund to take advantage of coronavirus-induced volatility. And the New York-based manager has wasted no time swooping on opportunities after deploying $212 million by 9 April -
Diamond set to be fourth CDS auction in May
3 years ago
An auction to settle CDS referencing Diamond Offshore Drilling will take place on 22 May, the Americas DC has said, adding to auctions earlier in the month for Whiting Petroleum, Frontier Communications and Ecuador -
Ecuador CDS gaps tighter as it heads to credit event auction
3 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 -
Selecta and Southwest battered as market trades flat as a pancake
3 years ago
Single name credit movements are taking focus as market volatility abates, with Selecta Group and Southwest Airlines earnings putting them among the biggest wideners -
Opportunistic credit funds take advantage of deal flow 'bonanza'
3 years ago
Opportunistic credit managers could emerge as big winners of the covid-19 crisis, if they raise money quickly to capitalise, as the pandemic sets off a chain of events causing severe financial stress in the market -
Europcar on the move with Spanish and shareholder support
3 years ago
Europcar Mobility Group is among the biggest movers today in bonds and CDS, after the French car rental company obtained Spanish government support and shareholder Eurozeo confirmed it would take part in a financing plan -
HY tranche traders face another cut as Diamond hits the rough
3 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 -
Ecuador has triggered CDS contracts, says Determinations Committee
3 years ago
Ecuador has triggered a restructuring credit event, the Americas Determinations Committee has ruled -
Credit keeps its own rhythm amid oil crash and EU clash
4 years ago
As another week of worry and disappointment ends, the most optimistic thing that can be said for credit is the new peak spreads are lower than those that went before - suggesting a more manageable level of volatility is starting to characterise the market -
Lebanon CDS auction pays out 86 cents to protection buyers
4 years ago
Holders of protection on Lebanon sovereign debt have received an 86 cent pay-out on every dollar, after today's credit event auction produced a final price of just 14 cents -
Matalan heads deep into distress
4 years ago
Matalan, the UK retailer, is heading deep into distressed territory with its five-year CDS surging wider today -
SEC proposes new fund valuation framework
4 years 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" -
Angelo Gordon hires well-known credit strategist in New York
4 years ago
Angelo Gordon has hired an experienced credit strategist as a manging director in its investor relations team in New York -
Whiting CDS auction delayed as bonds slump to single digits
4 years ago
The Determinations Committee has voted to postpone by a week an auction to settle CDS referencing Denver headquartered exploration firm Whiting Petroleum -
Eight bidders line up for Lebanon CDS auction as Morgan Stanley joins
4 years ago
Tomorrow's auction to settle Lebanon sovereign CDS will have eight participating bidders, after the Determinations Committee voted to add Morgan Stanley to the list -
Arcmont hires former Golub official as US sales head
4 years ago
Arcmont Asset Management has appointed a head of US sales, a spokesperson for the firm has confirmed -
DC accepts Ecuador credit event question
4 years ago
The Americas Determinations Committee has agreed to rule on whether Ecuador has triggered a restructuring credit event -
Frontier CDS auction to follow Lebanon and Whiting Petroleum
4 years ago
An auction to settle CDS referencing Frontier Communications will take place next month -
Boston pension seeks distressed debt manager
4 years ago
Boston Retirement System is reissuing its private debt manager search and soliciting proposals from firms to manage a distressed debt mandate -
New Mexico pension allocates $235 million to credit
4 years ago
New Mexico Educational Retirement Board has allocated $235 million to three credit managers, a spokesperson for the pension has confirmed -
Arbour Lane collects $1.2 billion for special situations fund
4 years ago
Arbour Lane Capital Partners has hauled in $1.2 billion on a final close of its opportunistic credit and special situation fund, Arbour Lane Credit Opportunity Fund II, exceeding its $750 million initial target size -
Credit Rendezvous: recovery begins, but is it U, V or even W?
4 years ago
Investing in credit is not as easy as ABC. The coronavirus crisis has crushed valuations and although most assets will eventually pull to par, no one is sure how the recovery will pan out -
Extreme gap opens for basis traders as relief packages cause distortion
4 years ago
Evidence abounds for how government and central bank interventions in the coronavirus crisis are distorting credit markets, but one clear signal is the flip-around of the basis between corporate bonds and CDS in recent days -
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 -
If history repeats itself, the best CLO play could be to hold equities
4 years ago
After a futile scramble for liquidity, LyondellBasel filed for bankruptcy in the early morning hours of 6 January 2009. Bad luck for CLO managers that were holding the loan? Not at all
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