TheLeadLeft
Top Ten Myths About Private Credit (Fifth of a Series)
Here are the next two fables in our continuing special series on myths of private credit: Myth #5: “No one uses mezzanine debt anymore.” As we detailed over four years ago (link), private sub debt regularly gets kicked around at conferences for being “dead.” This has particularly been the case since the advent of the…
Already a member? Log in here
Chart of the Week: Mezz Marches On
Middle market mezzanine activity slumped last year, but has maintained a steady pace since 2013.
Private Debt Intelligence – 2/17/2020
Women in Private Debt With a growing body of research indicating that more diverse teams and inclusive workplaces directly correlates with stronger business outcomes, the issue of diversity in private debt continues to move up the agenda. Preqin’s 2020 Women in Alternative Assets Report found the proportion of female employees in the alternative assets industry…
Already a member? Log in here
Loan Stats at a Glance – 2/17/2020
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
PDI Picks – 2/17/2020
Why investors are getting real In the UK and Europe, appetite for real estate and infrastructure debt is on the increase. At Private Debt Investor, our main focus is on corporate loans, typically supporting M&A activity for middle-market companies sponsored by private equity firms. It is, if you like, our ‘bread and butter’…. Subscribe to
Already a member? Log in here
Debtwire Middle-Market – 2/17/2020
Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…
Already a member? Log in here
Leveraged Loan Insight & Analysis – 2/10/2020
Spread differential between a unitranche and first-lien loan remains near all-time tights The middle market sponsored loan arena has kicked off 2020 with a slow start in the syndicated loan market. Refinitiv LPC has only tracked about US$2bn in volume, which trails this time last year of US$3.7bn by 46%. The average first-lien spread on…
Already a member? Log in here
DL Deals: News & Analysis – 2/10/2020
Lower Middle Market bustled in January Direct lending deal flow was by far the busiest that Direct Lending Deals has tracked since launching last September. The tally — driven mainly by lower middle market issuers— outpaced December by 43%, and by 28% over October, the second busiest month…. Subscribe to Read MoreAlready a member? Log
Already a member? Log in here