Covenant Trends – 3/13/2023
Accordion Inside Maturity (Past performance is no guarantee of future results.) Contact: Steven Miller
Accordion Inside Maturity (Past performance is no guarantee of future results.) Contact: Steven Miller
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
SVB was a major player in US middle market technology lending Silicon Valley Bank, the fifth largest lender to US middle market technology issuers, collapsed last week. According to Refinitiv LPC data, between 2020 and 2022, SVB agented 35 US middle market technology loans, totaling a combined US$4.8bn in deal volume…. Subscribe to Read MoreAlready
Rising investor interest in special situations and distressed debt An increasing proportion of investors surveyed by Preqin say special situations and distressed present the best opportunities in private debt. According to Preqin’s latest Investor Outlook survey,… Subscribe to Read MoreAlready a member? Log in here...
Reflections on distress Looking back on capital accumulation in recent years, investor anticipation of distressed debt opportunities grew – sometimes without reason. With distress a major talking point again, here are a few observations from a glance at our fundraising data: Waiting for the wave: Much of the recent history of distressed debt fundraising has…
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Many of us who lived through the financial crisis of 2008-2009 had flashbacks to that era. The collapse of Silicon Valley Bank and Signature Bank also raised concerns about the underlying health of bank balance sheets, particularly for the smaller firms. We were reminded of how customer confidence is everything for depository institutions. Banks exist…
Last week’s bank failures steepened the Treasury curve to levels not seen since 9/11.