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CLOs feel flat after housing $335 million of bankrupt RentPath
6 years ago
CLOs house $334.5 million of the debt of RentPath Holdings, which filed for Chapter 11 in the US Bankruptcy Court for the District of Delaware on Wednesday -
Thomas Cook CDS auction sets initial midpoint at nine cents
6 years ago
An auction to settle CDS referencing Thomas Cook Group has derived an initial market midpoint of 9.125 cents, implying protection buyers will receive a pay-out on contracts in the region of 89 cents -
Thomas Cook is a lesson for CLOs on unsecured bonds, says TwentyFour AM
6 years ago
The liquidation of UK travel operator Thomas Cook this week has underscored that “unsecured debt has no place in CLOs,” according to a note by Aza Teeuwen, portfolio manager at TwentyFour Asset Management -
Galapagos failure-to-pay credit event posed to DC as bond grace period lapses
6 years ago
The Credit Derivatives Determinations Committee has accepted a request to rule on whether Galapagos Holding, a former iTraxx Crossover index constituent, has triggered a failure-to-pay credit event -
Steinhoff CDS auction in limbo due to lock-up and CVA
7 years ago
A date to settle CDS referencing Steinhoff Europe had still to be agreed as Creditflux went to press — more than a month on from when the EMEA Determinations Committee (DC) ruled that the company had triggered a failure-to-pay credit event. -
Now the drugs don’t work, they just make you worse
The prognosis for pharma and healthcare companies is not good, with a rise in bankruptcies in the past two years and Aceto Corporation, Novum and Pernix Sleep already filing this year7 years ago -
US clothing brand default leaves CLOs exposed
7 years ago
As many as 100 CLOs are among the holders of debt issued by FullBeauty, which defaulted on 31 October on an interest payment to its $345 million second lien loans -
Seven deliverables valid for Sears CDS auction, as seven others split DC panel
7 years ago
There will be seven obligations deliverable into an auction on 14 November to settle credit default swaps referencing Sears Roebuck Acceptance Corp, the Americas Credit Derivatives Determinations Committee has decided. But members of the 15-strong DC were split over whether to include another seven potential deliverables that did not make the cut -
Sabine missed payment is a credit event, rules Isda
11 years ago
Isda rules on Sabine Oil & Gas as well as previous incarnation, Forest Oil
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