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Reorg Credit Intelligence - 5/10/2021

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Modernland Noteholders Seek 100% Asset Coverage Over New Notes Indonesian real estate developer PT Modernland Realty Tbk (MDLN) today, May 7, scheduled a call with noteholders of its $150 million guaranteed senior notes due 2021 and its $240 million guaranteed senior notes due 2024, with the discussion being centred on additional security collateralising the new…

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Debtwire Middle-Market – 5/10/2021

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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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Private Debt Intelligence - 5/10/2021

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North America dominates Q1 2021 PD fundraising North America-focused private debt managers closed 19 funds, raising aggregate capital of $18.4bn in Q1 2021, more than the other three regions combined. In comparison, the next largest region, Europe, saw seven funds raise $5.6bn…. Subscribe to Read MoreAlready a member? Log in here...

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The Pulse of Private Equity – 5/3/2021

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PE a growing force in M&A Download PitchBook’s Report here. Private equity is accounting for a growing share of M&A transactions. PitchBook’s just-released Global M&A Report shows that PE deals made up about 37% of all acquisitions last quarter, continuing an upward trend from the low 20s less than a decade ago. Last year PE transactions…

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A New Benchmark for Direct Lending

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Private debt practitioners have noted the shortage of credible benchmarks against which to compare various managers’ performance. Well, our friends at Lincoln International have decided to do something about it. Their team has developed a loan index created from the 2400 private companies they value. Leveraging expertise across that broad middle market portfolio affords Lincoln […]