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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…
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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…
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Loan Stats at a Glance – 4/19/2021
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
CLOs: The Rebound
By blocking the Suez Canal last month, the Ever Given made headlines, creating a massive shipping traffic jam. Three football fields long and weighing 250 thousand tons (by comparison, the Statue of Liberty is only 125 tons), the monster container vessel is the new global transportation reality: 90% of the world’s goods travel by water. […]
Leveraged Loan Insight & Analysis – 4/12/2021
CLO AUM ends 1Q21 at US$765bn, up 4.7% QoQ Driven by robust activity in the US CLO market, CLO AUM ended 1Q21 at US$765bn, up 4.7% quarter over quarter. March 2021 represented the sixth consecutive month of increasing AUM. CLO new issue volume had its fastest start to the year on record, closing 77 new…
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