Multi-Color Corp, the CD&R-backed label manufacturer, has received court approval for a restructuring plan that will eliminate nearly $4bn of debt and pave the way for its exit from Chapter 11 bankruptcy protection, according top a report by Bloomberg.

AirAsia Aviation Group is testing investor appetite with a $230m private credit transaction arranged by Deutsche Bank, as the airline sector faces renewed pressure from rising fuel costs, according to a report by Bloomberg citing unnamed people familiar with the deal.

Flow Capital Partners plans to offer its $150m private credit fund on a Singapore-based blockchain platform, marking one of the first moves by an Asian asset manager into tokenised private credit, according to the firm.

Private credit funds are facing increasing pressure as banks including JPMorgan Chase, Goldman Sachs and Barclays tighten leverage terms and more aggressively reassess collateral values, adding strain to a sector already dealing with investor withdrawals, according to a report by Bloomberg.

Japan’s financial regulator is positioning private credit as a core component of its evolving financial strategy, even as overseas markets face volatility and rising redemption pressure, according to a report by Reuters.

PNC Financial Services has revealed that it has approximately $7bn in exposure to private credit managers, as banks provide greater transparency around their links to the fast-growing asset class, according to a report by Bloomberg.

The US Department of the Treasury has reportedly begun requesting detailed information from private credit firms regarding their operations and connections to the broader financial system, according to a report by Punchbowl News.