Loan Stats at a Glance – 11/25/2019
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
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Debtwire Middle-Market – 11/25/2019
175bps margins dominate recent wave of loan repricings Source: Debtwire Par The recent jump in repricing activity has been marked by loans repricing to the 175bps margin area. This is in sharp contrast to last year when loan repricings were often at much higher price points. So far in 4Q19, a whopping 80% of loan…
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Private Debt Intelligence – 11/25/2019
UK-Based Private Debt The UK-based private debt fundraising market saw a record 2017, with 29 funds closed raising an aggregate of almost $29bn in capital. The previous record year seen was 2015 with 22 funds securing $19bn, and so far this year there have been 22 funds closed and $27bn of capital secured…. Subscribe to
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The Pulse of Private Equity – 11/18/2019
Grading our predictions Download PitchBook’s Report here. Earlier this year, we published our 2019 Private Equity Outlook, our crystal ball analyst note where we took a crack at predicting trends in the year ahead. With 2019 wrapping up, we’ll be grading our predictions in an ACG webinar on December 17. We’ll provide the link in next…
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Leveraged Loan Insight & Analysis – 11/18/2019
Distressed percentage accelerates on BDC loans For several years in an asset and yield starved market, BDCs stretched up the risk spectrum in an effort to keep up their lofty dividend yields. As the credit environment becomes tougher this year amid slowing global growth, more cracks are beginning to surface in BDC holdings. So far…
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Finding the Line: Senior Stretch vs. Unitranche (Second of Two Parts)
Speaking of long flights [link], news reached us of an overweight passenger punished for traveling in the main cabin. Or more precisely, the passenger’s owner was penalized. Viktor, a 22-pound cat of uncertain breed, was smuggled aboard Aeroflot in Latvia heading to Vladivostok – an eight-hour trip. Knowing his pet was over-the-limit, Mikhail Galin swapped…
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Chart of the Week: Blending Club
First-lien/mezz is the costliest capital structure for sponsors; unitranche is coming down.