Posts by KBRA DLD
Lending began to rebuild in July, add-ons drove 60% share
There’s no clear path forward yet, but lending began to slowly rebuild in July. The second quarter gave arrangers more…
Read MoreArdonagh highlights viability for large unitranches
It’s not a buyout, but Ardonagh Group’s record unitranche loan of £1.575 billion highlights the viability of jumbo ‘unis’ in…
Read MoreMay 2020: U.S. Direct Lending UOP
After outpacing M&A add-on activity for the past six months, LBOs fell in May, to a 28% share of direct…
Read MoreNon-Accruals across lower middle market portfolios rise to 7.5%
Effects of the coronavirus lifted the average non-accrual rate across lower middle market BDC portfolios by 1.7%, to 7.5% in…
Read MoreApril volume retreats as expected, May forecast is weak
Direct lending volume retreated in April, with transactions slipping to 43 from 67 in March, according to Direct Lending Deals.…
Read MorePrice points emerge in 10% to 11% range for jumbo direct lending loans
Two jumbo direct lending deals surfaced this week— Alnylam Pharmaceuticals and Airbnb —as the first comps to guide new issue…
Read MoreMonthly LBO lending decelerates, yet 1Q20 finishes strong; Outlook bleak
LBOs decelerated in March, to 47% of monthly U.S. direct lending volume, according to Direct Lending Deals. The drop was…
Read MoreFebruary new issues soften; March is a guessing game
February’s tally of direct lending loans softened to 57, from 73 in January, according to Direct Lending Deals. The decreased…
Read MoreDL Deals: ACProducts Deep Dive
KKR Capital Markets used hard call premiums starting at 103 on ACProducts, a B/B2 credit that had more of a…
Read MoreLower Middle Market bustled in January
Direct lending deal flow was by far the busiest that Direct Lending Deals has tracked since launching last September. The…
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