Analysts raise default predictions
Analysts raise default predictions

Distressed buyers make gains on financial bonds
Distressed buyers make gains on financial bonds

Telecoms and retail dominate defaults
The total defaulted debt in February was nearly $21.3 billion. This compares to January's total of $14 billion after the defaults of Qimonda, Smurfit-Stone and Contech late in the month. So far in 2009, telecoms and retail have seen the largest total defaults. At the time of going to press, the largest default in February was that of retailer Spectrum Brands, which filed for chapter 11 on 3 February, with $4.4 billion outstanding.

Borrowers pay rising price for covenant waivers
Borrowers pay rising price for covenant waivers

Loan and bond holders at odds on LyondellBasell payment
A coupon payment on plastics and chemicals manufacturer LyondellBasell's European high-yield bond, scheduled for 15 February, is attracting the close attention of a wide range of debt market participants. Lyondell Chemical filed for chapter 11 bankruptcy on 7 January, and may set the tone for future messy credit events in which complex global companies become distressed. A total of 79 entities were listed as part of the US bankruptcy filing, of which one was an international subsidiary, Basell Germany Holdings.

Debt holders split on foam maker’s loans
Debt holders split on foam maker’s loans

Defaults spread to telecoms and IT
Defaults spread to telecoms and IT

Auctions set to cause loan settlement strain
Auctions set to cause loan settlement strain

Ineos sets path for future European covenant talks
Ineos sets path for future European covenant talks

Investors target older vintage CDOs of ABS
Investors target older vintage CDOs of ABS

Ecuador default adds to rising tally of credit events
Ecuador default adds to rising tally of credit events

Corporate defaults increase further
Corporate defaults increase further

Distressed funds find large volumes of discounted CDOs
Distressed funds find large volumes of discounted CDOs

Borrowers rush to alter loan terms
Borrowers rush to alter loan terms

Junk bond issue will crystallise losses on jumbo buy-out loan
Junk bond issue will crystallise losses on jumbo buy-out loan

Rush to replace protection from Lehman introduces new risks
Imperfect hedges could come back to bite trading books, analysts warn, after last month’s scramble to replace credit derivative protection sold by Lehman Brothers

Structured credit veterans launch advisory and management firm
Structured credit veterans launch advisory and management firm

Chenavari brings in senior manager
Chenavari brings in senior manager

London start-up hires structurer
London start-up hires structurer

Credit Suisse loses flow head
Credit Suisse loses flow head

UBS strengthens European credit flow team with raft of new hires
UBS has made a number of additions to its European credit flow sales and trading team as part of a recent reorganisation aimed at maximising the potential of the bank’s customer

Deutsche Bank shuffles trading
Deutsche Bank shuffles trading

Tricadia adds for CDPC launch
Tricadia adds for CDPC launch

SuttonBrook hires credit exotics trader
SuttonBrook hires credit exotics trader

Top Bear Stearns’ credit staff secure roles at JP Morgan
The movements of some of former Bear Stearns’ senior credit employees in the US is becoming clearer, with news of five appointments to JP Morgan’s New York office