This week we fearlessly tackle one of the most frequently asked questions in private credit: Namely, where do you draw the line between a #SeniorStretch loan and a #Unitranche? It’s a topic that’s gained increasing traction as issuer leverage has risen steadily, going back well before the financial crisis. Back in the early 2000’s when […]
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Issuers in leveraged lending today are divided into three categories: the haves, the have-nots, and the wish-they-hads. With about six weeks of business left to the year, the differences between haves and have-nots is growing. In the #BroadlySyndicatedMarket, the combination of triple-C anxiety among CLO managers and cash out-flow worries with retail funds have impelled […]
BDC leverage on the rise, one tool to combat falling Libor After peaking in December 2018 at over 2.8%, 3-month Libor has since fallen to 1.9% and BDCs are reporting lower weighted average yields in 3Q19 as a result. Following this steep decline, BDCs are taking advantage of their flexibility to increase leverage under the…
PE’s tech infatuation Download PitchBook’s Report here. Tech-focused dry powder has almost doubled since 2016. The latest returns data available is through March of this year, when it totaled $93.1 billion across North America and Europe. That marked a 93% increase since 2016’s cumulative $48.2 billion, according to PitchBook’s latest analyst note on tech funds. The…
Average Minimum Day-One Capped Basket Capacity Contact: Steven Miller
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com