Dealers settle Nortel Networks final price at 12%
At 3pm (New York) yesterday, dealers participated in a credit event auction to settle credit derivative trades referencing bonds of Canadian telecom firm Nortel Networks Corporation and Nortel Networks Limited, a wholly-owned principal operating subsidiary

2006 vintage CLO sees single As change hands
The majority of the double-A class B tranche of a US CLO from 2006 traded recently

Last-minute legal change saved credit event auction from chaos
A last-minute amendment to the CAM provision in Lyondell's credit agreement by Citi preempted a potentially messy auction.

Mid-market CLOs trade from rare bid list
It is understood that two bonds from a list of eight middle market CLOs traded last Thursday (29 January)

Latest CDO of ABS bid list could see bids in single digits
At least one dealer has a three item cash ABS CDO bwic shown in the market, with bids at 11am New York time today

Secondary traders bid up controlling tranches as CLOs deteriorate
The secondary CLO market is bifurcating as buyers bid up senior tranches and shun mezzanine notes, according to market sources. The sharp price moves reflect increasing concerns that a significant number of deals could suffer events of default. That could result in a rapid pay down of the most senior notes

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

High yield recovery rates may fall to low teens
High yield recovery rates may fall to low teens

Corporates flood market with bond issues
Corporates flood market with bond issues

Crunch time for CLO fees
Crunch time for CLO fees

Prop desk circulates rare mid-market CLO bid list
A US bank prop desk has put out an auction list consisting primarily of arbitrage cashflow middle market CLOs

CDO sells off distressed CDO assets
Structured Asset Investor's Sagittarius CDO I, which has suffered an event of default, will see further assets liquidated through a 10-CDO bid list due today

Structurer departs French bank
French bank has recently lost a structurer, colleagues have today confirmed

Secondary prices slide amid low bids for CLO single As
Traders are expecting a steep drop in CLO prices in first quarter of this quarter, and that is reflected in the low bids at yesterday's auction of single A and double A positions

Bank touts rare old-vintage CBO repack
An investor is looking to sell a portfolio of old-vintage CBOs in the form of a repackaged note

Asset manager unloads triple A to single A CLOs in two auctions
A five-name CDO auction on Tuesday (19 January) resulted in a significant amount of trading

Bank hires twelve man sales and trading team
Bank confirms its recent hire of 12 man fixed income team