Dealers set Windstream credit event auction date
An auction to settle CDS referencing Windstream Holdings will take place on Monday, 18 March

Isda tables plans to rid CDS market of narrowly tailored credit events
After lengthy deliberation, a working group of major firms is today set to publish proposals aimed at ridding the market of ‘narrowly tailored credit events’, whereby borrowers are persuaded to default on debt payments in order to trigger pay-outs for CDS holders

Windstream set for high CDS pay-out as DC picks initial deliverable obligations
Windstream Holdings CDS protection holders look set for a high pay-out, as the cheapest deliverable obligations into the defaulted company’s credit event auction are quoted in the mid-20s

Oklahoma pension backs Pimco's evergreen credit fund
Oklahoma Firefighters Pension & Retirement System has decided to commit $75 million to Pimco Private Income Investment Strategy, according to minutes from the US pension fund’s board meeting in January.  

Distressed debt prospects limited, finds survey, but most expect 16-20% returns
The coming year will be a continued slog to find investment opportunities for distressed investors, according to half of respondents in a joint survey conducted by Debtwire and law firm Orrick

Texas pension adds $50 million to distressed separately managed account
The managed account has reached a total of $300 million 

PG&E auction brings slim payout for CDS protection holders
CDS referencing Pacific Gas & Electric Company have been settled at a final price of 77.75, meaning only a 22.25 pay-out for holders of protection

Private credit delivers strong returns for Finnish pension
Valtion Eläkerahasto (VER) has generated 12.4% from its private credit funds for 2018, according to its latest annual report  

Alaska pension commits $545 million to seven credit funds
Alaska Permanent Fund Corporation has earmarked $545 million to funds across the credit spectrum across Q2, according to 27 February board documentation

Illiquid credit boost returns for PensionDanmark
PensionDanmark has generated 5.8% returns from its illiquid credit portfolio for the year 2018, according to its latest annual report published today. But its liquid credit portfolio took a 3.4% hit

Windstream has triggered bankruptcy credit event, not failure to pay, says DC
The Americas Credit Derivatives Determinations Committee has ruled that Windstream Holdings has triggered a bankruptcy credit event, after the US phone company filed for Chapter 11 protection on Monday

Windstream bankruptcy credit event weighed by Determinations Committee
The Americas Credit Derivatives Determinations Committee has been asked to decide whether Windstream Holdings has triggered a bankruptcy credit event, after the US phone company yesterday filed for Chapter 11 protection

Bidders line up for PG&E credit event auction
An auction tomorrow to settle CDS referencing Pacific Gas & Electric Company CDS will have 10 participating bidders, after Morgan Stanley was added to the list

Minnesota pension set to back Varde Partners Fund XIII
Minnesota State Board of Investment is considering a $150m commitment to Varde Partners Fund XIII, according to a February Investment Advisory Council (IAC) meeting report  

Payless bankruptcy steps on toes of CLOs
CLOs hold exposure to the debt of US retailer Payless ShoeSource, which filed for Chapter 11 bankruptcy earlier this week

Windstream credit event question posed to Determinations Committee
The Americas Credit Derivatives Determinations Committee has been asked to decide whether Windstream Holdings has triggered a 'failure to pay' credit event, after a court ruled last week the US phone company had defaulted on bonds in 2015 when it span off Uniti Group

Lone Star shines with $8.2 billion final close for debt fund
Lone Star has raised $8.2 billion for the latest iteration of its distressed debt strategy, Lone Star Fund XI

Silver Point brings in $1.57 billion for distressed debt fund
The credit hedge fund manager, founded by ex-Goldman Sachs partners’ Edward Mulé and Robert O’Shea, has locked down $1.57 billion capital for its distressed debt fund 

CLO managers exposed as US mortgage lender files for bankruptcy
CLOs hold $164.9 million exposure to the debt of Ditech Holding Corporation, who refiled for Chapter 11 bankruptcy on Monday 

PG&E bonds on the rise as DC finalises credit event auction deliverables
An auction to settle CDS referencing Pacific Gas and Electric Company CDS will have 37 deliverable obligations, the Americas Credit Determinations Committee has confirmed

San Francisco pension deploys $125 million into private credit
San Francisco City and County Employees' Retirement System has bolstered its private debt bucket, making a $125 million commitment to a senior debt fund and opportunistic credit fund that builds on other private debt investments since last year

Allianz IM puts $200 million into Indian private debt
Allianz Investment Management has committed $200 million into the private debt platform of Edelweiss, an Indian diversified financial services firm.  

It’s going to be a credit picker’s market
Our panel of experts believe that the credit market will be volatile this year, but there will be opportunities in European credit and additional tier one bonds, trups CDOs and unitranches

Past returns: Columbia wins at long game
Ten years ago in Creditflux we reported on loan and bond holders squabbling as they sought to extract maximum value from LyondellBasell debt after the company filed for bankruptcy in January 2009

Points up front: Favouritism - that’s the long and short of it
The rift between Sound Point Capital Management and its former portfolio manager Jeff Teach highlights some of the difficulties managers face when overseeing multiple funds with both competing and similar interests