Mercurial year in loan secondary market driven by inflation fight Source: Debtwire Par It has been a mercurial year in the loan secondary market. The year started off strong with average bids ending the month of January at 97.72 and the share of loans trading at par or greater surpassed 15%, as optimism pulsed through…
Average EBITDA Adjustment Cap for Synergies & Cost Savings (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
Industrials lead European PD deal value Last week we highlighted the dominance of the information technology sector in private debt in North America. This week, we’ll show the sector breakdown for Europe’s PD industry in 2022. Although only 26 deals took place in the industrials sector year to date, the aggregate deal value stands at…
The Federal Reserve raised interest rates by 50 bps at its December meeting, following four consecutive 75 bp increases. The Fed funds rate target now stands at 4.25% – 4.50%. It had begun the year at zero… ▶︎ Read Dec 12 2022 newsletter: here ▶︎ Chart of the Week: here (by WSJ, Federal Reserve) (Any […]
We noted last week the state of play with the Fed’s battle to slay the inflation dragon without also cratering the entire village. The prospect of increasing spreads on top of a five percent-plus benchmark rate has dampened enthusiasm for M&A and financings. Nevertheless we find private equity sponsors in the traditional middle market space…
Since March the Fed has increased its rate target by 4.25%, the fastest climb ever.
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com