Credit fundraising: distressed keeps in favour but CLO ETFs emerge
Five months into global lockdown and distressed debt funds are still proving popular, but several managers have found success pitching other types of credit strategies

Europcar hits bumps on the road less travelled
A rough road for Europcar this week has taken its bond and CDS spreads back towards the outer reaches, setting the French car rental firm apart from a general improvement in fortunes for names at the wider end of the market

Hema triggers failure-to-pay credit event
Hema, the Dutch retailer, has triggered a failure to pay credit event, the EMEA Determinations Committee has ruled - making it the second default this month to dent the iTraxx Crossover index and its tranches

LP round up: Connecticut eyes Fortress for private credit partnership
Investors placed $3.3 billion across 26 credit mandates over the past fortnight, according to documents seen by Creditflux 

Hema credit event question posits second Crossover default this month
Hema, the Dutch retailer, has been posed as a failure to pay credit event to the Determinations Committee, raising the possibility of a second default in the on-the-run iTraxx Crossover index

Matalan credit event ruling draws heavily on precedents, says DC
A bankruptcy credit event ruling on Matalan - the first this year in a European index - was a close call and relied heavily on several precedent credit events, the EMEA Determinations Committee has said

French and travel names lead sell off as UK widens quarantine list
European credit is pushing wider at the end of the week, following the UK's decision to remove France, the Netherlands and other countries from its list of those safe to travel to without quarantine

Matalan becomes first Crossover index default in over year
Matalan, the UK based retailer, is the first default to hit the on-the-run series of Europe's iTraxx Crossover index, with the Determinations Committee ruling it has triggered a bankruptcy credit event

Noble Corp auction date set as low recoveries stack up
The Americas Determinations Committee has set a date to settle CDS referencing the offshore driller, which looks set to follow Chesapeake Energy as the latest in a run of big pay outs for protection buyers

Curve trades in focus as US high yield surges tighter
The strength of improvement in US high yield spreads looks to have shifted gear, with outperformance over European credit and a big move for CDX HY index curve trades

Fund performance: Credit funds post double-digit gains
June returns have once again been led by CLO funds, as seven out of the top 10 belong to our CLOs category.

Credit funds at a glance (August 2020)
A round-up of fundraising and people moves

Ucits at a glance: Ucits funds march on and erase Q1 losses
95% of Ucits credit funds listed with Creditflux posted positive returns in June to keep up the momentum from May when all but one fund was in positive territory

Credit hedge funds (August 2020)
Monthly credit hedge fund tables

Banks and high yield corps lead charge as results prompt European rally
High yield corporate credit is today's outperforming part of the market as European credit rallies back from its recent wides, as the latest round of earnings proves stronger than many had expected

Aon wraps up fundraising for $350 million opportunistic credit fund
The fund will target global investments across public corporate and structured credit, stressed credit and real estate debt

Wirecard CDS settles above single digits
Wirecard CDS just about bucked the recent trend of defaulting credits settling in single digits at auction

Europcar bonds and CDS take a spin ahead of earnings
Europcar Mobility Group is having a car-crash trading session in bonds and CDS today ahead of its expected earnings report

Seven dealers sign up for Wirecard CDS auction
An auction tomorrow to settle Wirecard CDS will have just seven participating dealers - three fewer than has been customary in other recent credit event settlements

LP round up: Oregon eyes $1.8 billion into structured credit
Institutional investors have earmarked over $6 billion to credit funds over the past two weeks

DC sets Wirecard CDS auction date, obligations and settlement terms
The Determinations Committee for Europe, Middle East and Africa has set a date to settle CDS contracts referencing German digital payments company Wirecard

Wirecard CDS auction set to have two deliverables
Two notes look set to be deliverable into an auction to settle Wirecard CDS, according to an initial list published by the EMEA Determinations Committee

Credit Rendezvous: record fiscal stimulus provides pick-me-up
Credit markets had a mini bounce-back in the second quarter as central banks poured cash into the economy. But there is great uncertainty about the effects of a second wave of coronavirus. As part of our quarterly report on credit - the Credit Rendezvous - Creditflux spoke to experts across 12 segments of the credit market

LP round up: managers keep fundraising hopes high as GSO targets $7.5 billion for mezz offering
Institutional investors allocated $1.6 billion into credit this week, according to documents seen by Creditflux

Wirecard splits DC on auction vote
Wirecard has caused a split at the Determinations Committee, whose members only narrowly reached a supermajority vote to hold a credit even auction for the German digital payments company