PGIM's global CLO chief to become CEO of fixed income in 2024
John Vibert, who oversees PGIM’s global CLO business, has been appointed president and chief executive officer of PGIM's fixed income unit effective January 2024

Credit Suisse slumps in bleak Monday, but high yield name sharply bucks trend
Financial markets are beginning the week on an uncertain footing, with anti-covid lockdown protests in China hitting commodity prices hard. But one European high yield company has bucked credit’s widening push with a massive rally

Telco bucks market trend with relief rally
United Group, the Balkan-focused, Netherlands-registered telecom group, rallied sharply in credit markets on Wednesday after the company addressed how it would meet approaching debt maturities

Alcentra structured credit portfolio manager steps up as primary PM for two funds
Alcentra has promoted the official, with Hiram Hamilton and Suhail Shaikh no longer the primary portfolio managers of BNY Mellon Alcentra Global Multi-Strategy Credit Fund and Hamilton no longer primary portfolio manager of BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund 

UniCredit wraps up three synthetic securitisations with EIB backing
UniCredit says it has produced three synthetic securitisations which will free ithe bank up to lend over €5 billion to small and mid-sized enterprises in Italy, Germany and Bulgaria.

Russia auction prep on pause after last minute scramble
The Credit Derivatives Determinations Committee has put on pause its preparation for a credit event auction to settle Russian Federation CDS, amid reports the country has made good on sovereign debt payments right at the wire

Heavy mood greets Europe’s return as earnings and rates policy weigh
The European market on its return after the long weekend is greeted with another sizeable push wider in spreads, with focus on US Federal reserve policy, this week’s round of corporate earnings and the prospect of US 10-year inflation linked bond yields turning positive for the first time in two years

Russia extends rally as DC rules against repudiation / moratorium
Russian Federation CDS contracts rallied strongly for a second day on Thursday, after the Credit Derivatives Determinations Committee ruled a repudiation / moratorium had not occurred on the country's sovereign debt

German real estate co makes big move on portfolio sale
Adler, the German real estate company, is one of the biggest movers in the European credit market on Thursday after signing an agreement to sell part of its portfolio

German real estate firm gains relief as credit spreads see-saw
Adler is among the biggest improvers in credit markets on Wednesday, as the week's heightened volatility brings another big shift tighter for indices

Chemical co beats widening blues as earnings and inflation drive sell-off
Ineos Group leads a small group of tightening credits that are bucking widening pressure in what is turning out to be a negative end to a choppy week

Credit rally extends as Fed hurdle passes and Evergrande views evolve
Credit markets are rallying for a second day, after the US Federal Reserve meeting indicated a shortening timeline to rate hikes but no shocks. A key deadline for China Evergrande bond payments still overshadows the Thursday session, but investor expectations have gravitated to a more localised impact for any fall out

High yield chemical co gaps tighter on bond buy-back
Chemical producer K+S Group is a big improver in credit on Thursday even as the rest of the market moves wider, after it announced a tender offer for bonds

French foodco CDS jumps on bond offering
Picard, the French frozen foods company, is a big underperformer in credit markets on Monday, as it limbered up to bring a triple-tranche bond deal

First Eagle targets $1 billion for direct lending
First Eagle is targeting a $1 billion fundraise for First Eagle Direct Lending Fund V

Alcentra co-CIO for liquid credit set to leave this month
A high profile figure in the US CLO business is leaving Alcentra

Europcar CDS auction to include loan deliverables following challenge
An auction tomorrow to settle CDS contracts referencing Europcar Mobility Group will include a term loan facility agreement as a deliverable obligation, following a challenge to the initial list

Europcar auction faces challenge with tight turnaround
The Emea Determinations Committee has little time to settle a challenge on Europcar Mobility Group deliverable obligations if an auction to settle CDS contracts referencing the defaulted French vehicle hire firm is to take place on time this week

No auction needed for Zambia CDS, says DC
Investors will have to physically settle Republic of Zambia CDS as there are not enough contracts outstanding to merit a credit event auction, the Emea Determinations Committee has ruled

Europcar posed as failure to pay credit event
Europcar Mobility Group has been proposed to the Emea Determinations Committee as a failure to pay credit event, following the French vehicle hire firm's announcement of a financial restructuring

Europcar bonds hit full throttle on restructuring agreement
Europcar bonds are among the best performing in a flattish market today, after the French vehicle hire firm obtained an agreement with its main creditors on a financial restructuring

Zambia triggers failure to pay credit event
The Republic of Zambia has triggered a failure-to-pay credit event, he EMEA Determinations Committee has ruled

WTW to tackle lack of diversity across investment industry
Progress on diversity across the investment industry is “disappointingly slow”, according to research from Willis Towers Watson

Selecta CDS auction date set with revised deliverables process
The Emea Determinations Committee has set a date later this month to settle Select Group CDS and has notified a change to its rules for choosing deliverable obligations

Selecta splashes CLOs with bankruptcy credit event
Selecta Group has triggered a bankruptcy credit event, the Emea Determinations Committee has ruled