Covenant Trends – 7/12/2021
Average Minimum Day-One Capped Basket Capacity, Quarterly (Past performance is no guarantee of future results.) Contact: Steven Miller
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Debtwire Middle-Market – 7/12/2021
Loan buyout financings accelerate in 2Q21, with jumbo deals driving volume Source: Debtwire Par Leveraged loans backing buyouts nearly doubled in volume from the 1Q21 figure, landing at USD 62.3bn for the second quarter of 2021. This comes as welcome news for investors, as year-to-date issuance through June represents a 55% improvement over the year-ago…
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LevFin Insights: High-Yield Bond Statistics – 7/12/2021
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
The Pulse of Private Equity – 7/12/2021
Deal activity surges, multiples tick up Download PitchBook’s Report here. At the halfway point, US PE dealmaking is on pace to break records. PitchBook’s latest US Breakdown Report is now released, which shows rocketing numbers through two quarters. Juxtaposed against those deal numbers, though, is a slight uptick in buyout multiples, which went up for the…
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Private Debt Intelligence – 7/12/2021
Direct lending remains popular in private debt As governments scale back pandemic support measures and interest rates remain low, private debt strategies are increasingly attractive. Over Q2 2021, direct lending attracted the most interest from investors, closing 17 funds and raising $19bn in commitments…. Subscribe to Read MoreAlready a member? Log in here...
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Middle Market Deal Terms at a Glance – July 2021
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
PDI Picks – 7/12/2021
When going green is not all it seems Investors are not convinced that ESG-friendly loans necessarily force managers to up their game. Private debt, it could be argued, has up to now occupied the back seat when it comes to environmental, social and governance issues. The expectation in sponsored deals has been that private equity…
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Reorg Credit Intelligence – 7/12/2021
U.S. Tobacco Cooperative Files Chapter 11 After Termination of Federal Tobacco Price Support Program Raleigh, N.C.-based U.S. Tobacco Cooperative, the “largest tobacco cooperative in the United States” and the “most vertically-integrated company in the industry, operating leaf receiving stations, green leaf threshing and redrying, primary blending, cigarette manufacturing, and wholesale distribution,” filed for chapter 11…
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