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Debtwire Middle-Market – 5/9/2022
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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Why ESG Matters (Seventh of a Series)
Now that we’ve established the broad sweep of ESG’s domain as well as the challenges of reporting and disclosure, let’s take a look at how it gets implemented across various asset classes. Traditionally ESG resided in public equities given shareholder’s theoretical ability to change corporate behavior. As we saw in our earlier study of the…
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Chart of the Week: Green Fields
The types and scale of sustainability bond and loan investing has grown dramatically.
Private Debt Intelligence – 5/9/2022
NA consumer discretionary tops PD deals in 2022 The vast majority of deals involving private debt finance in 2022 so far have targeted North America, with 202 out of 289 deals involving North America-based portfolio companies. Globally, 27 deals were in the consumer products segment, of which 18 were in North America…. Subscribe to Read
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PDI Picks – 5/9/2022
Larger funds mean larger deals A new average fund size record was set in Q1 2022, as private debt managers become more ambitious at the larger end of the market. We’re in the era of the private debt mega-fund. Last year, according to Private Debt Investor data (see chart), the average fund size breached $1…
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Loan Stats at a Glance – 5/9/2022
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
Leveraged Loan Insight & Analysis – 5/2/2022
Unitranches help move senior leverage higher on direct lender middle market technology sector LBO deals The increasing popularity of the unitranche loan structure backing direct lending middle market LBOs in the technology sector drove senior leverage levels higher than those in the broadly syndicated market last year. Tech sector deals have seen persistently high purchase…
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Debtwire Middle-Market – 5/2/2022
High Yield bond secondary prices tumble, sending yields to post-pandemic highs Source: BofA US HY Index, Debtwire Par Average prices for high yield bonds trading in the secondary market have taken a significant hit this year, falling from a high of 103.17 in January to just 92.31 on 4 May, according to the ICE BofA…
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