US Leveraged Loan Launches Ramp Up on Market Optimism Click here to access Bloomberg’s US Leveraged Finance Chartbook The US leveraged loan market has seen launches totaling $34.75b through Wednesday April 13, marking the first time weekly launches have topped $30b since February. The market has struggled to regain momentum following a sharp slowdown in…
Spreads Widened Large Cap Deals, Were Relatively Flat for Middle Market Deals If you are interested in the full report, please email kim.giancaspro@octus.com While the year typically starts quietly, increased BDC redemptions, AI disruption concerns, and a sluggish M&A environment hindered deal flow…. Subscribe to Read MoreAlready a member? Log in here...
U.S. Private Credit and Middle Market Performance Monitor: 1Q26 Click here to learn more. Private Credit Default Rates The PMR default rate based solely on bankruptcies, liquidations, and out-of-court restructurings was 1.9%…. Subscribe to Read MoreAlready a member? Log in here...
Technology loans move higher but continue to trade at a discount to the broader secondary market Technology loans continue to trade at a discount to the broader secondary market, as investors have reassessed their exposure to the software sector amid fears that AI could disrupt companies in this sector…. Subscribe to Read MoreAlready a member?
For over a decade, software has been the darling of investors. The reasons were evident long before the pandemic made the sector impossible to ignore. Recurring revenue, high retention rates, and sticky enterprise contracts offered lenders a business model that was both predictable and perceived to be resilient through any economic downturn. The pandemic accelerated…
Software became less of a sector and more of a defining strategy — particularly among larger funds. Source: BDC collateral
The blue line in the chart represents the current dividend yield of the VanEck BDC Income ETF (BIZD), which stood at 13.4% as of 8 May (up 156bps YTD and 168bps YoY). The yield increase is a function of lower BDC equity prices relative to trailing dividend distributions, with a broad portion of the sector…
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 First-Lien Institutional Loans That Cleared with Key Covenant Terms (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
KBRA DLD Default Indices(TTM 5/12/26) (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com