Covenant Trends – 11/28/2022
Percentage of Loans with MFN Carveouts (Past performance is no guarantee of future results.) Contact: Steven Miller
Percentage of Loans with MFN Carveouts (Past performance is no guarantee of future results.) Contact: Steven Miller
BDC recommendations shift towards “hold” since March BDC research analyst recommendations have been marked by a shift in recent months towards “hold” recommendations, a move away from the “strong buy” and “buy” recommendations observed since the first quarter of this year. Despite this shift, “strong buy” and “buy” still account for over half of all…
Venture debt fundraising gains momentum Venture capital fundraising fell after the public equities sell off in Q1 2022, which saw aggregate capital raised plummet from $72.5 in Q1 2022 to $11.1bn by Q3. However, more established early-stage companies may be able to access capital from the growing venture debt market…. Subscribe to Read MoreAlready a
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Investors fix gaze on Asia-Pacific As private debt matures, under-developed markets in Asia and Europe are expected to come into their own. In a newly published report on the state of private credit, the Alternative Credit Council foresees the growth of private credit beyond the favoured markets of the US and UK. Many of the…
The clock is ticking on interest rate hikes. Who will win the fight on inflation: the Fed with a soft landing or a recession with a hard one? The answer could either push buyers deeper into illiquid credit or reinforce indecision. But private credit has never been a timing game. Opportunistic, distressed and liquid credit are influenced…
YTD high-yield loan and bond volume slid 63% and 76%, respectively; direct lending is up 77%.
Last Tuesday the largest winning Powerball ticket ever (10-33-41-47-56) was bought at a gas station in Altadena, CA, just north of Pasadena. The lucky jackpot winner of $2.04 billion can elect a lump sum of $1 billion or be paid in installments over thirty-years… ▶︎ Read Nov 7 2022 newsletter: here ▶︎ Chart of the […]