Fixed income absolute return fund launches, says Citywire
Manager has plans to push further into the absolute return space with the launch of a fixed income absolute return vehicle

Canadian media group obtains lifeline
Canwest Global Communications obtained new credit lines of $175 million on Wednesday.

Active LCDX continues outperformance against HY
LCDX ended the week on strong flows Friday, with activity reported by dealers across series eight, nine, 10 and 12, as well as at the three-year point in LCDX10

Alltel repayment helps Barclays trim LBO exposure
Repayment of a loan by Alltel reduced Barclays Bank’s exposure to hung LBO loans to the tune of £3 billion ($4.6 billion), according to the bank’s quarterly earnings announcement today

Law firm appoints CLO specialist as partner
Law firm Ashurst has promoted David Quirolo to partner in its securities and structured finance practice in London

Determinations committee delays decision on MBIA split
Isda's credit derivatives determination committee has referred the question of whether there has been a succession event for MBIA to a legal subcommittee

Advisory firm makes structured credit hire
Advisory firm and asset manager hires managing director to join the structured credit team, according to website  

Points upfront - numbering
Points upfront - numbering

Correlated scenario increases HY default range, says Barcap
Barcap analysts contended in their Friday research that when a 30% correlation assumption is taken into account, the fundamental range of defaults on the three-year HY.12 index increases.

Condo developer files for chapter 11
Minnesota-based real estate developer Opus South filed for chapter 11 bankruptcy in the US bankruptcy court for the district of Delaware yesterday.

Interdealer trades dominate CDS volumes, says Morgan Stanley
Morgan Stanley has calculated that just under half (44%) of all outstanding credit default swaps are single name trades between two dealers

Sports equipment maker offers private exchange
Sports equipment maker Head announced today that its subsidiary, HTM, is holding a private exchange offer.

40 defaults needed to hit LCDX12 super-senior, says JP Morgan
According to JP Morgan's credit strategy report released on 17 April, supersenior tranches in the new LCDX has similar subordination as the CDX.IG supersenior (at 30-100%) and the CDX.HY supersenior tranche (at 35-100%).