Posts by KBRA DLD
KBRA DLD Default Indices
Source: KBRA DLD, by volume. The Direct Lending Index comprises $300 billion (3,000 borrowers); the LMM Index includes $20 billion…
Read MoreDefaults: Roughly 40% of restructured HY issuers were in trouble again within 24 months
Click here to learn more. Distressed debt exchanges (DDEs), the alternative medicine to bankruptcy when it comes to treating problem…
Read MoreRefinancings redefine the direct lending market, claim 36% share in 1Q24
TTM Default Volume, Count Refinancings claimed 36% of 1Q24 direct lending volume in the US, the largest share of all…
Read MoreKBRA DLD Default Forecasts for Liquid Credit: 3.25% ($45B) for HY, 4.5% ($65B) for BSL
Chart I Chart II KBRA DLD is forecasting a 3.25% default rate by volume (4% by number) for high yield…
Read MoreKBRA DLD Default Index: 2023 forecast is 2.5% for sponsored deals
Table 1 Chart 1 KBRA DLD’s 2023 default forecast is 2.5% for sponsor-backed direct lending loans, equating to roughly 30…
Read MoreKBRA DLD tracks 214 deals in 1Q23 across U.S., Europe
KBRA DLD tracked 214 direct lending deals in the first quarter across the U.S. and Europe. Even though Europe’s direct…
Read MoreJumbo outstandings climb to $118B with Cotiviti’s new record deal
Chart 1 Table 1 Cotiviti’s $5.5 billion credit raises outstanding jumbo loan volume to $118 billion, as tracked by KBRA…
Read MoreLofty yields — 12%— and little supply to pressure unitranche spreads
Unitranche yields in the KBRA DLD Private Data portfolio averaged 12% for the 90-day period ended Jan. 31, up from…
Read MoreBenign decline: Volume eases 14% YoY in DLD’s Private Data set
KBRA DLD tracked $3.8 billion in new-issue volume last month across sponsored, U.S. borrowers. Managers said new business felt slower…
Read MorePrivate Funds Finance: Big cushions offer protection against defaults
The private credit market is about to face its biggest stress test yet: Borrowing costs have more than doubled in…
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