Frontier CDS auction to follow Lebanon and Whiting Petroleum
An auction to settle CDS referencing Frontier Communications will take place next month

Boston pension seeks distressed debt manager
Boston Retirement System is reissuing its private debt manager search and soliciting proposals from firms to manage a distressed debt mandate 

New Mexico pension allocates $235 million to credit
New Mexico Educational Retirement Board has allocated $235 million to three credit managers, a spokesperson for the pension has confirmed

Arbour Lane collects $1.2 billion for special situations fund
Arbour Lane Capital Partners has hauled in $1.2 billion on a final close of its opportunistic credit and special situation fund, Arbour Lane Credit Opportunity Fund II, exceeding its $750 million initial target size

Credit Rendezvous: recovery begins, but is it U, V or even W?
Investing in credit is not as easy as ABC. The coronavirus crisis has crushed valuations and although most assets will eventually pull to par, no one is sure how the recovery will pan out

Extreme gap opens for basis traders as relief packages cause distortion
Evidence abounds for how government and central bank interventions in the coronavirus crisis are distorting credit markets, but one clear signal is the flip-around of the basis between corporate bonds and CDS in recent days

Whiting initial list points to 90 cent CDS pay-out
Four bonds have made it onto an initial list of deliverable obligations for an auction to settle CDS referencing Whiting Petroleum, which triggered a bankruptcy credit event earlier this month

BlueTorch's Genda details direct lending flows and pricing as he ramps up new fund
BlueTorch Capital has witnessed a 20% pickup in dealflow since covid-19 but, while the company's portfolio has avoided retailers, airlines and hotels, it has not gone unscathed, said chief executive officer Kevin Genda

Frontier triggers credit event but HY equity tranches outperform
Frontier Communications has triggered a bankruptcy credit event, the Americas Determinations Committee has confirmed. This is the fourth credit event to hit recently off-the-run index CDX HY series 33, on which on-the-run index tranches are based and for which recoveries have so far been very low

Matalan default risk jumps as market mood dampens
UK retailer Matalan is a big decliner today in bonds and CDS, as positive sentiment ebbs from the credit market after the recent strong rally

Equity tranche hits stack up with Frontier Communications bankruptcy
One of the longest anticipated credit events in the US high yield universe appears to have come to pass, with Frontier Communications filing for chapter 11 bankruptcy protection

Tennessee pension awards $125 million to special situations credit fund
Tennessee Consolidated Retirement System has awarded $125 million to a special situations credit fund 

General Atlantic teams up with Tripp Smith for $5 billion distressed debt fund
Private equity firm General Atlantic has partnered with GSO founder Tripp Smith to launch a $5 billion distressed debt fund to provide financing to covid-19 affected companies, according to the Wall Street Journal

Lebanon CDS auction set to include 15 cent bonds
The cheapest bonds to deliver into a credit event auction to settle Lebanese sovereign CDS could be worth only 15 cents in the dollar, according to a 27-note initial list published by the Determinations Committee

Date set for Whiting Petroleum credit event auction
Dealers will hold a credit event auction on 29 April to settle CDS referencing bankrupt US firm Whiting Petroleum, the Americas Determinations Committee said

Argentina has not triggered repudiation/moratorium credit event, rules DC
Argentina's decision to withhold payments on its 'AF20' bonds has not triggered a repudiation/moratorium credit event, the Americas Determinations Committee has ruled

Former Stifel loan trading head lands at Imperial
Imperial Capital Group has appointed the former head of loan trading at Stifel as a managing director and senior loan trader

Onex revamps leadership of credit business after hiring from GSO
Jason New has joined Onex Credit as co-chief executive officer in New York, according to an announcement.

Bardin Hill pulls in $300 million for first close of opportunistic credit fund
Bardin Hill has held a first close on an opportunistic credit fund at around $300 million, according to sources familiar with the matter

Texas pension allocates $100 million to Apollo credit hedge fund
Employees’ Retirement System of Texas has allocated $100 million to open-ended long-short credit fund, according to its March update 

CVC looks to cut quarterly tenders from 25% to 10% in listed credit fund
CVC Credit Partners is looking to amend quarterly tender terms through shareholder approval on its its listed credit fund to "respond to changes relating to covid-19 pandemic in the best way possible"

Europe/US credit gap extends as coronavirus curves part ways
The gap between European and US credit performance is widening as hopes rise in Europe the spread of the coronavirus could be slowing even as its impact extends in the US

Credit event hits new CDX HY as Crossover name's default risk surges
Whiting Petroleum has triggered a bankruptcy credit event, the Americas Determinations Committee has ruled, making it the first constituent default in newly on-the-run series 34 of the CDX HY index

Whiting chapter 11 hits new CDX HY series but misses CLOs
The Americas Determinations Committee has accepted a request to rule on whether Whiting Petroleum has triggered a bankruptcy credit event, after the Denver headquartered exploration firm filed for chapter 11 protection

CDX HY and EM trade with fresh legs after defaulted names drop out
New series of US high yield index CDX HY and emerging market index CDX EM begin their first full day of trading today, having replaced outgoing versions on Friday amid a weakening of credit markets due to the spreading impact of the coronavirus outbreak