Covenant Trends – 10/3/2022
Percentage of Loans with F&C Tranche Growers (Past performance is no guarantee of future results.) Contact: Steven Miller
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PDI Picks – 10/3/2022
The UK: room for optimism but concern growing While dealflow remains strong, lenders are cautious as we head towards the end of the year. Figures from Deloitte’s Alternative Lender Deal Tracker show the UK debt market is still the most active private lending space in Europe, accounting for 111 out of the 395 deals on…
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Loan Stats at a Glance – 10/3/2022
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Debtwire Middle-Market – 9/26/2022
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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Leveraged Loan Insight & Analysis – 9/26/2022
Poll: Direct lenders overwhelmingly say they stayed busy in 3Q22 The direct lending market continues to be a popular go-to option at a time when the syndicated loan market has seen lower volumes due to heightened levels of volatility. Refinitiv LPC recently polled US middle market lenders, asking them: were you able to lend as…
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The Pulse of Private Equity – 9/26/2022
Direct lending keeps replenishing Download PitchBook’s Report here. PitchBook’s latest Private Debt Report is now available. Direct lending is “the standout strategy” among private lenders, now accounting for more than a third of all capital raised in the private debt market. The ratio was actually higher last year, 46.5%. Direct lending is joined at the hip…
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Risk vs. Opportunity in Private Credit
Supply chain issues aren’t limited to bikes and baby formula. As the Fed withdraws liquidity from the banking system and investor cash exits public credit, delivering capital to traditional buyouts and M&A is a challenge… ▶︎ Read Sept 19 2022 newsletter: here ▶︎ Chart of the Week: here (by Preqin – North America data) (Any […]
Covenant Trends – 9/26/2022
Average Free-and-Clear as a Multiple of Pro Forma Adjusted EBITDA (Past performance is no guarantee of future results.) Contact: Steven Miller
LevFin Insights: High-Yield Bond Statistics – 9/26/2022
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com