LevFin Insights: High-Yield Bond Statistics – 9/20/2021
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
TheLeadLeft
Reorg Credit Intelligence – 9/20/2021
Uptick in Restaurant IPOs; BJ’s, Cheesecake Factory, Red Robin Ratios Improve Ahead of Upcoming Financial Covenant Tests; Brinker, Denny’s Refinance Revolvers; Updated Covenant Relief Timeline, Leverage Metrics In this issue of Reorg’s Restaurants Bi-Monthly, Our Americas Covenants experts provide an overview of credit-driven developments affecting the restaurant industry in July and August, including recent refinancings,…
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Private Debt Intelligence – 9/20/2021
North America PD Deal Value Rebounds in 2021 The private debt industry in North America is on track to beat last year’s number of deals and has already outpaced 2020 in aggregate deal value. So far in 2021, the region has seen 339 deals with an aggregate deal value of $105.5bn… Subscribe to Read MoreAlready
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Supply Chain Blues (Third of a Series)
Before Covid the persistent view on private credit was too much capital was chasing too few deals. Transaction inflation caused compressed spreads, higher leverage and weakened terms. When Covid hit this balance shifted dramatically in favor of the investor. Deal supply dried up, lenders retreated, and terms strengthened. But within weeks central bank liquidity ended…
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Chart of the Week: Ships Ahoy!
Container ships in the US queue are up significantly since the summer.
Covenant Trends – 9/20/2021
Flex Trends: Pricing (% of all Flexes that Decrease All-in Spread) and Covenants (% with Zero Doc Score Flex) (Past performance is no guarantee of future results.) Contact: Steven Miller
PDI Picks – 9/20/2021
Europe is also heating up It’s not just the US seeing transaction activity hit the heights. The leveraged buyout market is helping to create a boom in Europe, too. In last week’s edition of Lead Left, we reflected in this column on the “white hot” US deals market. In Europe, it’s a similar story, with…
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