‘Walk, don’t run’ to take advantage of software disruption, says KKR
Eddie O’Neill and Jeremiah Lane, co-heads of global leveraged credit at KKR, give their view on the headwinds and opportunities in CLOs

Optimum to show restructuring proposal to creditors’ advisors as company presses for deal before 4Q
Market participants discuss fraudulent conveyance claims amid reorganisation; creditor advisors are already restricted to review diligence documents

First Brands factoring provider Leucadia opposes disclosure statement, saying ‘death trap’ could deem creditors ineligible for recoveries

Provision disqualifies creditors from recoveries for objecting to plan, LAM argues

US Trustee moves to dismiss or convert First Brands’ bankruptcy cases, alleges ‘sleight of hand’ to dodge administrative expenses
Company faces USD 9.3bn debt, significant issues from tariffs and capital expenditures; DIP financing includes 30-day deadline for restructuring agreement

First Brands' journey from fraud-led freefall into bankruptcy to mediation-backed plan amidst examiner allegations
Proposed plan for debtor Premier Marketing Group is result of mediation efforts; case has been plagued with fights over adequate protection, discovery, and more

Investors should stay the course on private credit even amid valuation uncertainties—Mariner
EXCLUSIVE: Institutional investors can generally ride out any market bumpiness, and these internal marks do not necessarily reflect final returns, head of Mariner Institutional Mike Welker said 

LBOs, new loan supply expectations reset amid Iran war, AI-related disruptions
Loans in previously overlooked sectors are gaining more attention amid the upheaval, according to panellists at this week’s Creditflux CLO Symposium

First Brands announces RSA, plan forthcoming via mediation deal
Hilco to manage winding down, including inventory sales and receivables collections; plan aims to resolve DIP defaults, allow junior creditor recoveries

AI disruption fears and Middle East-driven macro volatility weigh on loan and bond issuance – 1Q26 LevFin Highlights
LevFin issuance across the US and European institutional loan and high-yield bond markets saw a strong start to the year before fears of artificial intelligence (AI) disruption and escalating macro volatility stemming from the US and Israel war with Iran weighed on market activity

First Brands Group examiner delays report as Onset seeks to strike CarVal Mexican law expert report, declaration
Examiner pushes status report deadline to 17 April, eight days past the original deadline; Onset, CarVal dispute reportedly centers on competing claims to about USD 16m held in escrow

Three former First Brands Group executives move to dismiss fraud claims in adversary suit
Three former executives moved to dismiss alleged fraud suit, claim no individualised misconduct; former executives contend conspiracy lacked a viable underlying unlawful act

Global issuance falls 22% QoQ and 12% YoY amid tech selloff and geopolitical insecurity – 1Q26 Loan Highlights
Loan issuance in the Americas, EMEA and Asia-Pacific (APAC) regions reached USD 1.37tn in 1Q26, according to Debtwire data; this volume was 22% down compared to the previous quarter and 12% below 1Q25

Investors push rebound in quality software credits
Credit markets are sanguine in the face of geopolitical and macro-economic disruptions, as investors shrug off the possibility that a prolonged war in the Middle East will send energy prices soaring and global economies tumbling into recession

CLO managers brace for software loan maturity wall
Underperforming software loans that will mature in 2028 are causing sleepless nights for CLO managers

M&A volume leap 20% to USD 1.38tn in first quarter of 2026
Even the Iran conflict has not arrested momentum among larger deals. A mammoth USD 122bn capital raise from OpenAI closed on the last day of the quarter, according to Mergermarket data

AI blockbuster deals surge as Middle East conflict test dealmaker confidence
Mergermarkets M&A Highlights 1Q26: Global M&A volume jumped 22% to the second highest start ever

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

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

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

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