LevFin Insights: High-Yield Bond Statistics – 9/28/2020
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
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Debtwire Middle-Market – 9/28/2020
Loan secondary prices grind higher on limited new money deal flow Source: Debtwire Par, Markit Leveraged loans continue to grind higher in the secondary market, with limited new money issuance prompting investors to take a closer look at secondary market opportunities. The weighed average bid on term loans has added another 17 bps this month…
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Private Debt Intelligence – 9/28/2020
European Private Debt AUM Reaches Record High Figures European private debt AUM has shown enormous expansion in recent years. It has more than doubled since December 2014 and more than tripled since December 2012, reaching €179bn as of December 2019. However, seems that the presence of attractive opportunities has made the dry powder fall…. Subscribe
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PDI Picks – 9/28/2020
Delaying the inevitable? Many businesses may be faring better than expected but investors are worried that economic reality will catch up in the end. Listening to market sentiment at our New York Forum virtual experience 2020 last week, it was clear things could be both an awful lot better and an awful lot worse. Some…
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Loan Stats at a Glance – 9/28/2020
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
Post-COVID Private Credit: Leverage & Pricing
A private credit practitioner would have found no better place to spend the week than at the SuperReturn North America Virtual conference. As chair of Day One, and on three lender panels your correspondent had a front row seat listening to GPs and LPs describe how they were dealing with the effects of COVID-19 on […]
Debtwire Middle-Market – 9/21/2020
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…
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The Pulse of Private Equity – 9/21/2020
Healthcare investment outpaces overall PE market PE activity in the healthcare space has outpaced the broader PE market since 2009. A new PitchBook analyst note, to be released tomorrow morning, chronicles the trend: tailwinds include an aging population, an uptick in global per capita healthcare spending, strong growth rates and attractive margin profiles, and a…
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Private Credit – Better than Ever (Fourth of a Series)
We mentioned last week our turn at the SuperReturn North America Virtual conference. There we heard participants weigh in on various aspects of the pandemic on private credit, including impact on terms, structures and portfolio performance. But what about new business? A lot depends on managers’ strategies. Over the past five years, institutional investors have…
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