Tech loan issuance slows as credit markets turn selective Technology issuance in the institutional leveraged loan market fell to just USD 550m in April, marking the sector’s lowest monthly volume in the past four years. The last comparable level was recorded in December 2022, when issuance was USD 447m…. Subscribe to Read MoreAlready a member?
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
Percentage of Loans with Uncapped Synergies & Cost Savings EBITDA Addbacks (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
PE AUM forecast ($T) Download PitchBook’s Report here. By the end of 2030, we forecast global PE AUM to reach $8.8 trillion in our base case, with a plausible range of $7.6 trillion in our downside case to $10.2 trillion in our upside case. Over the last decade, cheap leverage and market-driven multiple expansion were primary engines of PE…
Leveraged issuance expands for second consecutive month despite slower M&A pipeline US LevFin issuance reached nearly US$150bn in May. While business expanded roughly 20% on the month and continued to improve after bottoming in March, the pickup wasn’t all that compelling once you kicked the tires and looked underneath the hood…. Subscribe to Read MoreAlready
Source: SPP Capital Partners Contact: Stefan Shaffersshaffer@sppcapital.com
US Leveraged Loan Issuance Poised to Top $100b in May Click here to access Bloomberg’s latest Global Leveraged Loan Index Report Following three consecutive months of declining issuance, the US leveraged loan market has rebounded sharply in May, with approximately $99.3b priced through May 27. This marks a significant recovery from April, when issuance totaled…
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
“We are late in the credit cycle.” What is often a throw-away line preceding some dire market prediction, should be questioned. Are we measuring from the GFC? Are we ignoring the multiple speed bumps – COVID, bank failures, tariffs, rate shock – since then? Regardless, a major sustained downturn since 2008-09 has not materialized. Clearly…
When public credit markets close, private credit absorbs the shock. Source: FT, Hinze, Rintamaki, Mondini, Steffen.