Distressed

News

KKR Revamps Asset Management Debt Team

Kohlberg Kravis Roberts & Co. has promoted four professionals in its asset management department to run the firm's special situations and leveraged credit strategies...

Carlyle Taps MS Vet as Cap Markets Chief

The Carlyle Group has nabbed former Morgan Stanley sales and trading chief Michael “Mitch” Petrick as its first global head of credit alternatives and capital markets, the private equity firm said today...

Centaur Files for Chapter 11

Centaur LLC, a horse track, off-track betting and casino operator based in Indianapolis, filed for Chapter 11 bankruptcy protection in Delaware on Saturday...

S&P: Sixteen Corporate Defaults Recorded So Far in 2010

There have been 16 corporate defaults so far this year and most have been in the U.S., according to a report published by Standard & Poor's...

Tribune Bondholders Sue Banks over Buyout Debt

Bondholders of media giant Tribune Co. are suing the banks that arranged the company’s leveraged buyout, claiming the banks knew the $8 billion in loans they arranged would make the company insolvent...

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Articles

Drop in HY Credit Quality Raises Worries

Lower quality credits are finding a welcome reception on the junk bond market, and that worries some high yield players. But while some investors and analysts fear the market is too welcoming, others point out that most high yield deals are still being used to refinance more expensive debt...

Companies Consider Junk Bonds to Exit Ch. 11

The way out of the deep hole of bankruptcy could be a ladder of junk. As increasing numbers of companies climb out of Chapter 11 protection, more have begun to consider junk bonds to finance their exits...

M&A Looks Different on its Return

M&A activity is in the midst of a comeback, but like a patient recovering from a long illness, it doesn’t look quite like its old self. The leveraged loan and high yield bond markets are seeing more deals motivated by mergers and acquisitions...

Distressed Investors Keep Hunting for Yield

While deals abound for high yield bond and leveraged loan investors, distressed debt opportunities have fallen precipitously over the past year. This has left some distressed investors sitting on the sidelines and others taking bigger risks...

The Entrance of the Exit Facilities

After the wave of bankruptcies last year, market participants expect a second surge to hit the leverage loan market’s shores—exit facilities. And judging by the number of exit loans already on the primary calendar, this wave could be a whopper...

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