Covenant Trends – 5/31/2021
Percentage of Loans with Uncapped Synergies & Cost Savings EBITDA Addbacks (Past performance is no guarantee of future results.) Contact: Steven Miller
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Inflation Worries: Real or Imagined?
The Federal Reserve is standing firmly behind its view that, despite April’s CPI increase of 4.2%, the highest since 2008, any inflation will be transitory. But some observers worry that pent-up consumerism will create inflation akin to the 1970’s. In a thought piece published last month entitled “Why Our Managers Disagree on Inflation, Interest Rates […]
Leveraged Loan Insight & Analysis – 5/24/2021
US syndicated middle market activity picks up the pace in 2Q21 At over US$26bn through May 19, US syndicated middle market volume is just US$3bn shy of 1Q21’s full quarter level. The big difference maker has been sponsored middle market volume, which totals US$10.6bn in completed volume this quarter, already besting 1Q21’s US$9.8bn level. LBO activity…
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The Pulse of Private Equity – 5/24/2021
13.3% returns in Q3 Download PitchBook’s Report here. PE fund returns data continues to pour in, giving us a clearer picture of COVID’s impact in 2020. Finalized Q3 2020 data shows a 13.3% return, on a global basis, according to PitchBook’s just-released Global Fund Performance Report. That surpasses the 9.1% return in Q2, and between those…
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Inflation Nation (Second of a Series)
We continue our special series on inflation speaking with Nuveen’s chief investment strategist, Brian Nick. Brian, there’s a lot of attention being paid by markets to inflation risk. Is this warranted? “Prices of certain goods and services in the U.S. are rising for a variety of reasons, all of which we believe to be transitory….
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Chart of the Week: Reopening Remarks
The reopening of shuttered or nearly closed businesses accounted for a big share of April’s CPI increase.
LevFin Insights: High-Yield Bond Statistics – 5/24/2021
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
Private Debt Intelligence – 5/24/2021
Europe plays catch up in global PD Although North America-focused funds still constitute 61% of total private debt AUM globally, other regions are gradually expanding their share. Particularly in Europe, which made up 30% of global private debt AUM by June 2020…. Subscribe to Read MoreAlready a member? Log in here...
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Debtwire Middle-Market – 5/24/2021
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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