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Debtwire Middle-Market – 2/24/2020

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Secondary loan market softens in face of coronavirus fears Source: Debtwire Par, Markit With fears around the spread of the coronavirus growing, loan investors are faced with the decision to reduce risk or buy the recent dip in the secondary market. After several months defined by repricings, tightening spreads, and elevated secondary market pricing, the…

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Private Debt Intelligence - 2/24/2020

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Outlook for Private Debt in 2020 Private debt investors are generally satisfied with the performance of their portfolios. Eighty-nine percent of those Preqin surveyed in November 2019 said that private debt performance had either met or exceeded their expectations, the highest figure among all alternative asset classes…. Subscribe to Read MoreAlready a member? Log in

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Private Credit Myth #5: No One Uses Mezzanine Debt Anymore

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Here are the next two fables in our special series on myths of #PrivateCredit: Myth #5: “No one uses #mezzanine debt anymore.” Private sub debt regularly gets kicked around at conferences for being “dead.” Particularly with the advent of unitranche financings. Whether you want to call it – sub or junior debt, second lien, PIK […]

PDI Picks – 2/24/2020

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Distress is back in fashion Amid a subdued year for private debt fundraising in 2019, distressed debt proved to be a magnet for investors. Last year saw the lowest level of private debt fundraising since 2014, indicating that the asset class may be losing some of its sheen – or that investors are taking a…

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Private Credit Myth #3: We’re late in the cycle, so loans are risky

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This week in our continuing special series on private credit myths, we come to: Myth #3: “We’re late in the cycle, so loans now are risky.” For issuers one of the virtues of private credit is being available when public markets aren’t available. Buy-and-hold private credit managers have locked-in capacity. Since the assets are not […]