Chart of the Week: Lower for Longer
Direct lending defaults lead credit categories in low defaults, though headed higher. Source: KBRA DLD Default Research
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Pet Smart
News reached us last week of an unfortunate Shillington, PA man wounded when his shotgun went off. Police believe his dog jumped on the bed where the man was cleaning the weapon, somehow triggering it. A neighborhood cat was also questioned but later released. We bring this to readers’ attention because of the recent media…
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The Pulse of Private Equity – 11/10/2025
PE nowcast versus reported return Download PitchBook’s Report here. The PE Barometer remains in neutral territory with a score of 57, producing a nowcast of 3.9% and a desmoothed nowcast of 4.8% for Q3 2025…. Subscribe to Read MoreAlready a member? Log in here...
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Bloomberg: Leveraged Lending Insights – 11/10/2025
M&A Gains Momentum Amid October Slowdown in Leveraged Loan Market Click here to access Bloomberg’s US Leveraged Finance Chartbook October saw a notable decline in US institutional leveraged loan activity, with 72 deals totaling $62.7b marking a 32.7% decrease from September’s $93.2b, and the slowest monthly volume since May ($31.6b). This brings year-to-date issuance to…
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KBRA Direct Lending Deals: News & Analysis – 11/10/2025
KBRA DLD Default Indices(TTM 11/11/25) (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
LevFin Insights: High-Yield Bond Statistics – 11/10/2025
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
Covenant Trends – 11/10/2025
Percentage of Loans that Allow Uncapped Synergies & Cost Savings EBITDA Adjustments (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Middle Market & Private Credit – 11/10/2025
U.S. Business Development Companies Outlook 2026 Click here to download report. Fitch Ratings has a ‘deteriorating’ sector outlook for U.S. business development companies (BDCs) in 2026, due to pressure on earnings and dividend coverage from declining interest rates and elevated payment-in-kind (PIK) income…. Subscribe to Read MoreAlready a member? Log in here...
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Leveraged Loan Insight & Analysis – 11/10/2025
US repricings slow in early 3Q25 as new loan assets re-emerge US leveraged lenders completed just under US$18bn of repriced institutional loan volume during the month of October, down from over US$23bn in September and less than half of August totals (US$43bn) and one fifth of July results (US$94.2bn)…. Subscribe to Read MoreAlready a member?
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PDI Picks – 11/10/2025
An investor vote of confidence Amid some mixed headlines, private markets appear to be as popular as ever with those who provide them with their capital. In last week’s column, we reflected on some of the outcomes from our latest LP Perspectives study. Continuing our examination of some of the key findings this week reveals…
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