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The hits keep coming for Goldman Sachs, the one-time Teflon firm of Wall Street. The latest: Two funds have told the Loan Syndications and Trading Association that they think Goldman Sachs helped... Read more...
TheDeal.com offers a nice rundown of the top 10 deals of the boom years, concluding that they are holding up well. This is something of a surprise given the pathetic valuations for leveraged loans... Read more...
Out of the frying pan and into the fire? It may seem that way to Citi. The company's third-quarter earnings were abysmal; the $2.8 billion loss marked its fourth-straight losing quarter. Investment... Read more...
The Financial Times suggests that the purchase by the Blackstone Group of debt boutique GSO Capital Partners last year speaks volumes about the credit universe that... Read more...
John Pickett, who ran a Citigroup hedge fund from 1999 until his resignation in December, has filed a sealed arbitration-like complaint in London. In it, he has some... Read more...
IDD reports that the syndicated loan market is still struggling. A big part of that is the on-going drought in leveraged loan issuance, which reflects largely the slowdown in LBO activity. New... Read more...
TheDeal.com offers an interesting look at a deal that's working out; it may end up a rare example of success. Recall that Verizon Wireless agrees this month to buy Alltel from TPG Capital and Read more...
The leveraged loan market has been whipped recently. Obviously, it really went into the doldrums as the credit crunch reached its nadir. But then the vultures moved in, including a lot of private... Read more...
Hedging is a risky business. The bottom line is that it's really hard. We've said it before; there is fine line between hedging and speculating. I'm not sure anyone can lay out the full range of... Read more...
We've noted that valuations have improved for some on-the-brink debts as of late, notably leveraged loans and some credit default swaps. The trading psychology seems to be improving in part because... Read more...