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

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

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

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

First Brands factoring provider Raistone seeks examiner over USD 2.3bn in missing funds
Alleged disappearance of third-party factored receivables sparks demands for the appointment of an examiner

First Brands' distorted balance sheets serve as warning to private credit lenders – Market React
Company secured fresh debt despite missing payments to Onset Financial; Special committee investigates double invoice pledging

Altice France new capital structure starts trading as investors consider M&A potential
Restructuring completed as secured debt trades; break-up of Altice France business possible through sector consolidation

Evolving M&A is transforming the capital formation landscape – KKR
'Critical' link between M&A and credit is set to fuel growth in private markets

Corporate default rates predicted to fall despite tariff uncertainty - S&P
Speculative-grade corporate default rates expected to fall on both sides of the Atlantic as trade tension uncertainty eases, but some concerns remain

Pimco urges caution in credit markets despite recent resilience
The resilience of the private sector has supported the credit market in the first half of the year, despite “whipsawing” market volatility, a new report from Pimco has found. 

Volatility could cause credit markets to break this year – TCW’s Bryan Whalen
PODCAST: Investors aren’t being paid enough of a premium for the risks in US corporate credit, TCW’s chief investment officer of fixed income told Creditflux’s Lisa Lee on the latest ‘Credit Exchange’ podcast  

Private credit’s golden era never really ended – Blackstone’s Michael Zawadzki
On the Credit Exchange podcast, Lisa Lee speaks with the CIO of Blackstone Credit and Insurance about opportunities in volatile markets and the durability of private credit premiums

Fund performance
Entering the final three months of the year, CLO funds took a clean sweep of the top 10 spots in the Creditflux tables. October was strong overall, as over 85% of funds listed made positive returns

Altice France reminds creditors that unrestricted subsidiaries can be freely spun-off
Altice France's debt documents permit the XpFibre spin-off, and most credit agreements and high yield bond indentures permit the distribution of the equity in unrestricted subsidiaries

Credit hedge funds
Credit hedge fund performance

IACPM survey finds credit PMs still gloomy, but less so than last quarter
Respondents to the latest IACPM Credit Outlook Survey are still negative about future credit conditions, but less so than in previous surveys

Global Loan Highlights 1Q24: Don’t call it a comeback
Loan refinancing share hits historic high, but IG issuance stymies YoY global growth

Global corporate defaults on fastest pace since 2009 according to S&P
The number of corporate defaults has risen dramatically year-to-date, according to S&P Global Ratings, driven by a doubling of the rate of defaults in Europe

Credit hedge funds
Credit hedge funds

Credit funds at a glance
Credit funds at a glance

Wave of legal hires becomes a tsunami
In February alone legal heavyweights Allen & Overy, DLA Piper, Fried Frank, Kirkland & Ellis, Proskauer Rose and White & Case all announced the arrival of partners in the credit space

Credit hedge funds
Credit hedge fund performance

Credit funds at a glance
Credit funds at a glance

Connecticut Retirement Plans and Trust Funds commits more than USD 600m to credit manager
Connecticut Retirement Plans and Trust Funds has allocated approximately USD 625m to pension funds in the state's private credit portfolio