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…
Shoe Zone Remains in Rental Term Talks With Landlords After Missed Payments, in Discussion With Suppliers on Delivery Disruption Amid Falling Revenue U.K. retailer Shoe Zone is in negotiations with its landlords to secure better terms after it failed to meet its rental payments. The company is also in talks with its suppliers after experiencing…
The default story may have another twist Aided by support schemes, many businesses have been protected from the worst effects of the pandemic. But what happens when the support comes to an end? “While we are not out of the woods, we have seen a large number of loans return to performing credits, and we…
Average EBITDA Adjustment Cap for Synergies & Cost Savings (Past performance is no guarantee of future results.) Contact: Steven Miller
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
A question came from a reader on our series about the Lincoln Senior Debt Index. She asked: “I’m curious how the benchmark accounts for where the loan is in the cap structure? Recovery rates for unitranche, 1st lien and second lien are different. So any portfolio would have to match the composition to effectively compare […]
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
M&A loan volume kicks up in 2Q; WarnerMedia/Discovery provides further boost Both high grade and leveraged loan arranger alluded to the flurry of M&A discussions that had kicked up at the end of 1Q21 and their hopes for a steady pipeline of deals into 2Q. Barely six weeks into the second quarter, nearly US$80bn in…