The most-hated credit trade turns into a big winner for hedge funds

Quick Summary:

Representatives for Diameter, Silver Point, PGIM, BlackRock and Citadel declined to comment, while Arini didn’t respond to requests seeking comment.

Buried inside the labyrinth of credit agreements governing all the subsidiaries of Lumen, Paloma Partners discovered an investor safeguard that had been breached due to a procedural misstep, according to people with knowledge of the matter, who asked not to be identified because they’re not authorized to speak publicly.

This story is based on conversations with conference attendees, people familiar with Diameter, Silver Point, Citadel, PGIM and Arini’s positions, and investor letters seen by Bloomberg News.

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Article Details

Author / Journalist: BusinessMirror

Category: BusinessStartups

Markets: Philippines

Topics: Trade Level Been Billion Lumen Company Bonds Creditors Diameter Debt Deal

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-31 @ 16:05:00 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 1337 words

Reading Time: 8 minutes read

Sentences: 52 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 22314112

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 22 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 12 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #37

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