Covenant Trends – 10/19/2020
Distribution of MFN Sunset Horizons Contact: Steven Miller
Distribution of MFN Sunset Horizons Contact: Steven Miller
Sad news reached us last week on the consumer products front. We’re referring, of course, to Coca-Cola’s decision to discontinue Tab by year end. Launched in 1963 against the first diet cola, Diet Rite, Tab came of age in the 1960’s and ‘70’s, appearing in Back to the Future, Terminator and Ghostbusters. But competition from…
As the COVID-19 crisis took hold, leverage distributed more widely by borrower ebitda.
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Record Amounts of Funds and Capital in the Private Debt Market The number of private debt funds in market and the capital targeted have reached new records at the beginning of Q4 – 521 funds in market seeking for a combined $295bn. This is a 54% increase compared to January 2020, when funds on the…
Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…
Fundraising has not been stopped in its tracks Senior debt strategies lead the way as capital accumulation manages to retain some forward momentum. Private debt funds raised a total of $109.8 billion during the first nine months of 2020, the lowest figure since 2016, according to PDI data (see chart above)…. Subscribe to Read MoreAlready