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Leveraged Loan Insight & Analysis - 10/12/2020

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3Q20 MM sponsored loan issuance picks up from 2Q20’s low, but still quite anemic Sponsor-backed middle market volume showed a pick up in 3Q20 to US$5.6bn, up 120% from 2Q20’s post credit crisis low. But volume was still quite dire and over 62% behind 3Q19’s level. While pricing has been tightening dramatically month after month,…

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The Tyranny of Dry Powder

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A recent note from our good friend at Bloomberg, Kelsey Butler, pointed to a study in Astrobiology highlighting 24 planets that could sustain life. Criteria for “superhabitability” include home stars younger than the Sun, Earth-like masses, and atmospheres with warmth and moisture greater than Earth. All these planets are over 100 light years away –…

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The Pulse of Private Equity – 10/12/2020

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Carveouts – up but not booming Download PitchBook’s Report here. One of the earliest predictions back in March was that PE-led carveout activity would go up. PEGs had dry powder to spend and corporate sellers had liquidity concerns—they were also going to need to concentrate on their core businesses, so it made intuitive sense than ancillary…

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Debtwire Middle-Market – 10/12/2020

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Leveraged loan market sees a pick-up in M&A-related deals and dividend recaps Source: Debtwire Par Following on from September, the month of October is seeing a steady stream of leveraged loan deals, comprised of M&A-related transactions, dividend recaps and refinancings. On a positive note for lenders, M&A-related institutional loan deal flow has topped USD 9bn…

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