Healthcare companies made up 36% of all Chapter 11 filings in 1Q24 Source: Debtwire Restructuring Database A guide to distress in healthcare Overall, during the first quarter of 2024, there were 35 Chapter 11 applications for total debt of USD 15.4bn, of which 12 were healthcare companies, or 36% of all Chapter 11 filings, per Debtwire’s Restructuring Database….
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
Percentage of Deals with 75+ bps MFN (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Median North America and Europe PE buyout EV/EBITDA multiple Download PitchBook’s Report here. A quarter in 2024, PitchBook data shows that buyout multiples remain elevated. The trailing 12-month mark for EV/EBITDA multiples in Europe and North America stands at 11.9x, relative to 14.1x for the first quarter of 2024…. Login to Read More...
1Q24 US Leveraged volume up 46% year over year; Highest quarterly total in over 2 years US leveraged lenders completed US$347.5bn of issuance across the high yield bond and leveraged loan markets in 1Q24, a 46% increase compared to the same time last year and the strongest quarterly results since 4Q21. More interesting was the…
The Fed’s “higher-for-longer” has compressed leverage loan coverage ratios. Source: PitchBook | LCD(Past performance is no guarantee of future results.)
This week we acquainted ourselves with fun facts about solar eclipses. One is the fortuitousness of size and distance. If the Moon was slightly smaller or further away from Earth, there would be no totality. This coincidence is also impermanent. Apparently, the Moon is creeping away from our planet at the rate of 1.5 inches…
What is Driving Increasing Deal Sizes in Private Credit? Direct lenders have increasingly been targeting larger companies, after previously focusing on middle market sized companies. (Fitch loosely defines larger as companies with about $500 million of debt and about $100 million of EBITDA or above)… Login to Read More...
The rise of quasi-distress As fund managers become adept at heading off problems before they threaten to kill companies off, distressed strategies are changing in nature. The news in August last year that Oaktree Capital Management was in the market with an ambitious $18 billion target for its latest opportunistic credit fund highlights the burgeoning…
Source: PitchBook LCDContact: Ryan BrownRyan.Brown@pitchbook.com