LevFin Insights: High-Yield Bond Statistics – 5/11/2020
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
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Private Debt Intelligence – 5/11/2020
Special Situations Gather Momentum Private debt fundraising has slowed down in 2020 – so far this year, there have been 44 funds closed raising a combined $35bn. Strategy wise, direct lending continued to dominate the market closing 10 funds in Q1 2020… Subscribe to Read MoreAlready a member? Log in here...
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PDI Picks – 5/11/2020
Crunch time for the BDC market Current trading is looking bleak for BDCs, but they’ve come through even worse in the past. BDCs are expected to see significant write-downs and defaults on portfolio company loans because revenues collapsed in much of the economy. A decline in the net asset value of BDCs may end up…
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Covenant Trends – 5/11/2020
Percentage of Loans that Allow Uncapped Synergies & Cost Savings EBITDA Adjustments, Sponsored v Non-Sponsored (LTM) Contact: Steven Miller
Loan Stats at a Glance – 5/11/2020
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
The Great Stay-In vs the Great Recession: Lessons Learned
“The GFC was a crisis that began on Wall Street and spread to Main Street. COVID-19 is a crisis that began on Main Street and spread to Wall Street.” That’s how one private credit manager compared the two worst downturns since the 1930’s. With the coronavirus still in its early stages, this pandemic might end […]
Leveraged Loan Insight & Analysis – 5/4/2020
Avg. bid on Refinitiv’s BDC Visible Loans Benchmark remains at the 80 context Loans held by business development companies with mark-to-market pricing have stabilized in the 80 context in the last few days. Refinitiv’s BDC Visible Loans Benchmark provides investors with a daily mark on roughly US$20bn in first and second lien loans held by…
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DL Deals: News & Analysis – 5/4/2020
April volume retreats as expected, May forecast is weak Direct lending volume retreated in April, with transactions slipping to 43 from 67 in March, according to Direct Lending Deals. It was the slowest month for deal flow since DLD launched last September, and most of the mandates were underwritten pre-Covid…. Subscribe to Read MoreAlready a
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The Pulse of Private Equity – 5/4/2020
The bankruptcy question Download PitchBook’s Report here. A looming question over the next several months is how many PE-backed companies will be forced into bankruptcy. The odds suggest an increase in PE-backed bankruptcies as cash flows begin to dry up in the short term. According to PitchBook’s Quantitative Perspectives, GFC-era data offers some clues on what…
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