Covenant Trends – 2/22/2021
Percentage of New Issue First Lien Loans that Cleared with a J. Crew Trapdoor Contact: Steven Miller
Percentage of New Issue First Lien Loans that Cleared with a J. Crew Trapdoor Contact: Steven Miller
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Private Debt near-terms IRRs decline In comparison to its peers, private debt lags over short- and mid-term investment horizons. A downturn in Q1 2020 pulled the private debt asset class down to a one-year IRR of -0.8% to the end of June…. Subscribe to Read MoreAlready a member? Log in here...
We continue our special series on the outlook for the year ahead with a look at the capital markets. What are the moving parts impacting funds flow, asset characteristics (volume, prices, and yields), and quality of deal issuance? With each passing day, the prospect for lower infection rates improves. Investors expect vaccine distribution to reach…
Expectations for an improved economy has driven yields and time to a Fed hike in opposite directions.
The climate change debate heats up Private debt managers have not been at the forefront of ESG in the past but times are changing. When we canvassed the opinions of limited partners about how seriously private debt fund managers take climate change, the responses were not exactly a ringing endorsement. Just 4 percent told our…
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
We conclude our special series, “Five Biggest Private Capital Surprises of 2020,” with: Surprise #5: The M&A Big Bang Last July published a white paper on COVID-19 and M&A Activity. It was called “COVID-19 and M&A Activity”. Besides logistical challenges, there were worries about second and third infection waves. “We’re expecting a light second half,” […]