Covenant Trends – 2/3/2020
Distribution of Synergies & Cost Savings EBITDA Addback Time Horizons (for Actions Resulting in Addbacks) Contact: Steven Miller
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LevFin Insights: High-Yield Bond Statistics – 2/3/2020
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Leveraged Loan Insight & Analysis – 2/3/2020
After record quarter in 4Q19, Green & ESG lending off to strong 2020 start After a strong 4Q19 which culminated in record issuance across the green & ESG markets, 1Q20 issuance has set off at a brisk pace. Nearly US$54bn in green bond volume was completed in 4Q19 via 126 issues to set a new…
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Private Debt Intelligence – 2/3/2020
Private Debt Deals Break New Ground Leverage is a key component in a private equity transaction, used to drive and maximize returns for investors. Banks moving away from the space has opened up more and more opportunity for private lenders, which are better positioned to provide an alternative financing model for borrowers…. Subscribe to Read
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Top Ten Myths About Private Credit (Third of a Series)
We continue our special series this week with : Myth #2: “Private credit is the next market bubble.” The same notion that private credit is crowded drives the view that strong investor demand will lead to a burst market bubble. It’s a myth that’s applied regularly to leverage loans. The universe of broadly syndicated loans…
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Chart of the Week: Par for the Course
Overall loan valuations have a natural ceiling, with secondary prices more susceptible to downward moves from par.
PDI Picks – 2/3/2020
RECESSION IS THE LOOMING CONCERN When considering the biggest threats in 2020, investors are most fearful about a possible recession in core markets or an escalation of the ongoing US-China trade war. These are seen by respondents to our LP Perspectives 2020 survey as the most likely factors to have an impact on performance in…
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Private Credit Myth #1: Private credit is a crowded space
With our discussion last week of the relationship between age and happiness, some readers asked us: Ok, what country has the happiest residents? According to the World Happiness Report, Finland topped a list of 156 countries. The US was 19th, and South Sudan as the least cheerful place to live. Finland is a surprising outcome, […]