Unitranche spreads, yields hit 2021 low in December Competition moved unitranche spreads 25 bps lower in December to an average of L+540, a monthly low in 2021, despite the stabilizing effect heavy volume in the fourth quarter had on pricing for smaller borrowers and non-unitranche LBO financing. The decline dropped all-in yields to 6.7%, also…
U.S. M&A Volume by Segment Lenders cleared over US$619bn in US syndicated M&A loan volume in 2021 to mark the second highest annual total on record, just behind the US$648.5bn raised in 2018. The calendar was steady throughout both the first and second halves of the year with 2Q21 logging the second strongest quarterly results…
162 exits of at least $1 billion Download PitchBook’s Report here. The US PE market enjoyed a wave of big exits last year, according to PitchBook’s just-released Annual Breakdown Report. 2021 was a blockbuster year for exits, fueled in large part by billion-dollar-plus sales. PitchBook counted 162 such exits, by far the most we’ve ever recorded,…
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
Percentage of New Issue First Lien Loans that Cleared with a J. Crew Trapdoor (Past performance is no guarantee of future results.) Contact: Steven Miller
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
LP appetite strong, but some concerns are voiced Inflation and high valuations are among the factors making investors a little more uncomfortable than normal about private credit’s prospects. The release of our annual LP Perspectives study is a chance to probe LPs on their allocation strategies for the private debt market over the next 12…
Regulatory changes in Europe could stimulate PD industry The European Union has taken steps to gain the benefits offered by the Chapter 11- bankruptcies regime, shifting the focus from companies’ liquidation to protecting creditors’ rights and keeping the business afloat. The North American private debt market has always dwarfed the European market… Subscribe to Read