Loan Stats at a Glance – 11/14/2022
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
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Private Credit: Why Now?
In recent weeks we’ve talked about how the Fed’s Great Unwind and rate hikes have impacted the economy, capital markets, and private credit. Top economist have helped interpret data on where US and global economies are headed. And we’ve analyzed how private credit terms are impacting both… ▶︎ Read Oct 31 2022 newsletter: here ▶︎ […]
Leveraged Loan Insight & Analysis – 11/7/2022
BDC share price-to-book value ticks up but remains below recent highs BDC share price-to-book values have moved around recently in tandem with shifts in the equities market and investor sentiment. The average share price-to-book value is at 0.86x as of November 4, up from 0.76x in late September but down from 0.95x in mid-August…. Subscribe
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Debtwire Middle-Market – 11/7/2022
Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…
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The Pulse of Private Equity – 11/7/2022
Europe resilient, for now Download PitchBook’s Report here. PE trends in Europe are bucking trends in the United States—so far, anyway. PitchBook’s Q3 2022 European PE Breakdown recorded a 16.9% YoY increase in deal counts. Deal value was flat YoY. Both are in contrast to the US market, where 2022 numbers face the tough task of…
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Covenant Trends – 11/7/2022
Average Total Deleveraging Required To Meet RP Ratio Test (Past performance is no guarantee of future results.) Contact: Steven Miller
LevFin Insights: High-Yield Bond Statistics – 11/7/2022
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
Private Debt Intelligence – 11/7/2022
APAC-focused mezzanine fundraising doubles in 2022 Private debt fundraising with a focus on APAC was buoyant between 2019 and 2021, when annual aggregate capital raised stood between $9.4bn and $12.4bn. Over $8bn has already been raised so far in 2022 , of which a record $4.1bn for mezzanine funds, almost double that of 2021…. Subscribe
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DL Deals: News & Analysis – 11/7/2022
YTD volume up 77%; October falls just 15.3% YoY U.S. direct lending is thriving in 2022, with year-to-date volume up 77%, according to KBRA DLD. Volume recorded through October totaled $122 billion, up from $69 billion through the same period last year. By contrast, U.S. leveraged loan and high yield volumes have tanked under steep…
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