Covenant Trends – 12/16/2019
Distribution of MFN Maturity Carveout Horizons Contact: Steven Miller
TheLeadLeft
Loan Stats at a Glance – 12/16/2019
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
“The Best Place to Be” (Last of a Series)
The name George Laurer may not be familiar to our readers. But his invention certainly is. Mr. Laurer, who passed away two weeks ago at the age of 94, created the bar code. The UPC is now a universal feature of consumer products, but prior to its adoption in 1974, cashiers had to manually input…
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Chart of the Week: Buyout Binge
Purchase price multiples for all leveraged buyouts have steadily risen since the Great Recession.
Leveraged Loan Insight & Analysis – 12/9/2019
US secondary loan bids get a boost from improved single-B sentiment Average bids in the US secondary loan market have been on the upswing of late. The LPC 100, Refinitiv LPC’s cohort of the 100 largest and most liquid loans, closed Monday bid at 98.02, its highest level since August 2. The LPC 100 was…
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The Pulse of Private Equity – 12/9/2019
Middle market firms rarely target the public market Download PitchBook’s Report here. Middle market investors aren’t known for prolific take-private activity, but the percentages are surprisingly low. For the past two years, middle-market take-privates have accounted for less than 2% of all middle market activity. 2% is pretty skimpy. Dating back to 2014, MM buyouts have…
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DL Deals: News & Analysis – 12/9/2019
Direct Lending: Add-ons maintain share over buyouts in November Add-on acquisitions continued to drive financings over buyouts in November, accounting for half the tally, compared to 42% for LBOs, according to Direct Lending Deals. Other proceeds, which include growth financing, accounted for 8% of volume, according to DLD. … Subscribe to Read MoreAlready a member? Log in here...
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Covenant Trends – 12/9/2019
Percentage of Loans with Uncapped Synergies & Cost Savings EBITDA Addbacks Contact: Steven Miller
Private Debt Intelligence – 12/9/2019
Europe-Focused Private Debt Fundraising Hits Record High Private debt fundraising has been slowing down globally since 2017 – so far this year the asset class has raised $92.7bn, the lowest fundraising figure seen since 2014. Normally, a big proportion of private debt trends are attributed to the most developed markets of North America and Europe,…
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