Loan market sell-off set to widen, Sealed Air enters primary despite expected issuance slowdown – Europe Loan Digest
Electronic Arts to price today; strong CLO bid protects prices from macro volatility

EQT, Advent, Cinven embrace deal flexibility as hedge against Middle East chaos
ECM Pulse:Optionality trumps predictions in chasing LP returns; uncertainty dogs IPO prospects as bid-ask gap remains

First Brands secures final mediation extension to advance case resolution talks, judge warns against further delays
Judge approves extension of FBG case resolution mediation with Judge Isgur through 27 March; likely the final extension for case resolution talks

EU insolvency law harmonisation campaign marches on with new directive
LEGAL ANALYSIS: European Parliament signs off new ‘harmonisation’ directive: Relates to five areas, including avoidance actions and ‘pre-packs’

ABS primary braves geopolitical uncertainty as spreads start to feel pressure – European ABS Weekly Digest
The European ABS primary market mostly shunned geopolitical risk this week as seven deals priced, two of which were pre-placed

CLO portfolios are diversified across sectors — but not by business model
Sector analysis isn’t deep enough to discover which companies will be boosted by AI — and which will nosedive

AI will upend operational models in a very short space of time
With online travel firm equities and life insurer CDS already off by a third, the systemic risk of AI is real

First Brands seeks expedited sale of Walbro business for USD 50m to Overdrive Capital
USD 50m cash purchase price plus assumed liabilities, Polaris Industries as guarantor; expedited approval needed due to funding constraints and potential job losses

Air Baltic and INEOS Quattro bonds fall, AD Education loan continues to slide – Market Comment
Latvian flagship airline Air Baltic’s EUR 380m 14.5% senior secured 2029 notes are 5 points down from Friday, while UK-based chemicals group INEOS Quattro’s EUR 775m 8.5% senior secured 2029 notes are 4.5 points down at 77.9-mid in the wake of rising costs stemming from the US/Iran conflict

Raistone enters Chapter 7 following First Brands filing; judge in Highland Chapter 11 case recuses herself after allegations about her novels
Judge Stacey Jernigan of the US Bankruptcy Court for the Northern District of Texas recused herself from multiple matters in Highland Capital Management's Chapter 11 case after parties argued that novels she authored portrayed a hedge fund executive involved in the case

AI’s potential may be underestimated despite investing concerns – Howard Marks
AI’s potential is likely underestimated, but worries about job losses and an AI investment bubble persist, said Oaktree co-founder Howard Marks in a new memo

A historical SFVegas confab marked by snow, fire and AI
Software leveraged loans sold off during the annual industry meeting in Las Vegas

Raistone enters Chapter 7 to liquidate following major customer First Brands’ collapse into Chapter 11
Raistone provided factoring services to First Brands, its largest revenue source; First Brands faces fraud allegations, with Raistone having significant unsecured credit exposure

Schroders, InPost deals boost 2026 takeover pipeline by EUR 19bn
InPost agrees EUR 7.8bn deal with Advent, FedEx; modest premium for Schroders may open for rivals

Group.ONE TLB and Cision loan fall on continued AI selloff
Market Comment: Software leveraged loans are under pressure on continued AI fears

Software private credit names face refinancing risks amid AI fears – KBRA
ANALYSIS: The ratings agency also noted that software exposure alone is not a risk to BDCs, private credit CLOs and direct lending portfolios

A fiery start to the year
Welcome to the first issue of the Creditflux magazine for 2026. Our cover pays homage to the Lunar New Year, which begins on February 17 and is symbolised by the horse

Software loans face further declines as AI fears persist
The rapid deployment of artificial intelligence is wreaking havoc with software companies that not long ago were darlings of the US leveraged loans market

CLO market dulled by software spillover
The new year kicked off with one of the most bullish sentiments ever for the CLO market. Already, barely into February, the mood has been tempered

‘This is a perfect storm for the loan market’
Investing Corner with Michael Sobol, global head of investing at Blackstone

LFFM event makes life-saving return
Leveraged finance leaders meet in London to support the Melanoma Research Alliance, raising millions and spotlighting the breakthroughs that are now helping fight many types of cancer

New filings detail Patrick Drahi's diversion of assets to detriment of certain Altice creditors – report
EUR 4.5bn loan affected, 55% of Altice International's assets; creditors explore litigation, including covenant breach and conveyance claims

US lev loans, CLO spreads move in opposite directions as market worries deepen over software loans
ANALYSIS: The unusual dynamic has been driven by worries about disruption from artificial intelligence, as investors fret about the potentially wide-ranging impacts across a range of sectors

European BSL market upped risk to win deals in 2025 – White & Case
The BSL market issued a higher percentage of loans rated below BB against a backdrop of patchy M&A flow

Retail and consumer credits show weaker fundamentals – BlackRock co-head of leveraged finance Mitch Garfin
PODCAST: There are opportunities in the market, according to Mitch Garfin, co-head of leveraged finance at BlackRock – but consumer and retail-oriented sectors are under pressure