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Debtwire Middle-Market – 3/7/2022

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Loan secondary pricing slumps amid Russia-Ukraine tensions Source: Debtwire Par, Markit Average bids on term loans in the US secondary market tumbled 156 basis points (bps) since hitting a high of 98.11 in January, as a combination of high inflation and escalating tensions between Russia and Ukraine sent jitters through financial markets. The downturn marks…

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Leveraged Loan Insight & Analysis - 3/7/2022

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US LBO first-lien leverage at all-time high Total leverage on US LBO deals continues to hover around the 7.1x mark in 1Q22, the same area its averaged over the last seven quarters. What is different this quarter is an increase in first-lien leverage which is averaging 5.9x so far, the highest level tracked all-time.  So…

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Private Debt Intelligence - 3/7/2022

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Private debt AUM growth will spur product innovation Preqin expects private debt to be the fastest growing alternative asset class over the next five years, with forecast compound annual growth rate of 17.4% from 2021 to 2026 outpacing infrastructure (16.7%), private equity (15.8%), and real estate (7.1%). This growth would be an acceleration from 15.27%…

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Covenant Trends - 3/7/2022

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Share of New-Issue Institutional Loans with a Pick-Your-Poison Provision by Quarter (Past performance is no guarantee of future results.) Contact: Steven Miller

PDI Picks – 3/7/2022

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Safety first is good news for senior debt Investors coming from fixed income, and with anxiety around inflation, see the senior end of the spectrum as their natural entry point into private debt. The covid-19 pandemic has seen senior debt fundraising take more market share, with PDI’s 2021 Fundraising Report recording that 45 percent of…

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