Loan Stats at a Glance – 11/16/2020
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
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Leveraged Loan Insight & Analysis – 11/9/2020
LBO leverage multiples stay aggressive in 4Q20 After remaining extremely light the past two quarters, LBO activity has picked up, as private equity sponsors are putting more money to work. Through the end of last week, there was US$16.5bn in completed US LBO volume, 19% higher than year-ago levels…. Subscribe to Read MoreAlready a member?
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Post Election: Markets March On
Given all that’s gone on this year, it’s unsurprising that Election Day came and went, with only a big “TBD” to show for it. Results now are mostly in, but this uncertainty had little impact on the capital markets. The S&P had its best week since April and bond yields sank only mildly. As is […]
Now We Wait
Answer: For most of US history, it was March 4, not January 20.Question: What is Inauguration Day? We found ourselves channeling our inner Alex Trebek this week as the nation’s attention began shifting from election matters to vaccine watches. News from Pfizer’s late-stage trials that their COVID-19 vaccine was 90% effective buoyed public equities, sending…
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Chart of the Week: Junk Pile
With data reported only through Oct 7, high-yield bond volume has already reached record levels.
Debtwire Middle-Market – 11/9/2020
Leverage multiples on LBO deals rebounds in 4Q20 Source: Debtwire Par Leveraged loan activity backing LBOs has picked up this quarter, following subdued deal flow in 2Q20 and 3Q20 due to the COVID-19 pandemic. Fourth quarter syndicated leveraged loan issuance backing buyouts is currently at USD 17bn, already topping volumes in the prior two quarters….
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Covenant Trends – 11/9/2020
Percentage of Loans with Uncapped Synergies & Cost Savings EBITDA Addbacks Contact: Steven Miller