LevFin Insights: High-Yield Bond Statistics – 4/19/2021
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
TheLeadLeft
Debtwire Middle-Market – 4/19/2021
Demand sends loan prices higher in frothy secondary market Source: Debtwire Par, Markit Demand for leveraged loans has remained strong in April, driving the average bid on first lien institutional term loans up to a recent high of 97.14 before retreating to 96.88 by 20 April. Of the most widely quoted loans, 62% have moved…
Already a member? Log in here
Leveraged Loan Insight & Analysis – 4/19/2021
1Q21 US sponsored loan volume third highest on record Private equity sponsors returned to the loan market in 1Q21 to clear US$196.5bn through retail syndication, the highest quarterly total since 2Q18 and the third highest on record. At US$128bn refinancings represented 65% of the 1Q21 sponsored loan calendar as issuers tapped lenders for repricings and…
Already a member? Log in here
State of the Capital Markets – First Quarter 2021 Review and Second Quarter 2021 Outlook
Review of Current Market Conditions/ Analysis of Capital Markets Metrics/ Review of Credit Quality/ Outlook for Second Quarter 2021
CLOs Revisited – Ratings, Risks, and Returns (Last of a Series)
News reached us from Mars of the first powered Earth aircraft to fly on another planet. Ingenuity, a helicopter with four foot wide blades (and carrying a small swatch from the original Wright Brothers bi-plane), hovered at ten feet for 30 seconds then lightly touched back down. More flights are planned. “What the Ingenuity team…
Already a member? Log in here
Covenant Trends – 4/19/2021
Average Free-and-Clear as a Multiple of Pro Forma Adjusted EBITDA (Past performance is no guarantee of future results.) Contact: Steven Miller
Chart of the Week: Default Lines
Credit estimates, compared to credit ratings, have proven more beneficial to middle market CLO defaults.
PDI Picks – 4/19/2021
Fundraising still lagging – for now Private debt fund managers are still struggling to attract investor commitments, but the asset class looks well placed going forward. The numbers are in – and provide disappointment for anyone hoping for a rapid turnaround in the fortunes of private debt fundraising. As can be seen from the chart…
Already a member? Log in here