Covenant Trends – 10/12/2020
Distribution of Accordion F&C Tranche EBITDA Grower Caps (L3M) Contact: Steven Miller
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PDI Picks – 10/12/2020
What to make of direct lenders’ prospects? Direct lending has enjoyed years of tailwinds – now it must confront the headwinds. Direct lending has experienced enormous growth since the global financial crisis (see chart showing fundraising for various direct lending-relevant strategies), filling a gap that retrenching banks left behind…. Subscribe to Read MoreAlready a member?
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Loan Stats at a Glance – 10/12/2020
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
Private Credit: Should investors be worried?
With all the distractions of the moment, it’s hard to remember that US GDP dropped 33% in the second quarter – the sharpest decline in history. It looks, though, like the third quarter is poised for one of the biggest economic rebounds, with estimates around 30%, depending on the impact of stimulus programs that have […]
Leveraged Loan Insight & Analysis – 10/5/2020
1-3Q20 Leveraged volume up 6% y-o-y; Asset mix skews toward HY bond issuance US Leveraged borrowers pushed nearly US$839bn of issuance through the market during the first nine months of 2020, a 6% increase over the same time last year. Although the totals did not shift dramatically year over, the mix of loans and bonds…
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The Pulse of Private Equity – 10/5/2020
Small bounce back in Q3 PitchBook’s latest US PE Breakdown Report will be in tomorrow morning’s newsletter (sign up here for a free subscription and a copy of the report). Q3 numbers show moderate rebounds in both estimated count and value, clearing a very low bar set in Q2. Estimated deal volume was about 48%…
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Covenant Trends – 10/5/2020
Percentage of PE-Backed Loans with Portability by Quarter: All Deals vs. Dividend Recaps Contact: Steven Miller
DL Deals: News & Analysis – 10/5/2020
Third quarter finishes on high note; Lower middle market LBOs rally in Sept The second quarter’s heavy caution all but disappeared by last month in a swift reversal of deal flow. Uncertainty is onmnipresent, but investors have capital to deploy, financing has stabilized and after idling for six months, it’s risk on toward year end….
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LevFin Insights: High-Yield Bond Statistics – 10/5/2020
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com