LevFin Insights: High-Yield Bond Statistics – 10/7/2019
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
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Debtwire Middle-Market – 10/7/2019
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…
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PDI Picks – 10/7/2019
Q3 fundraising holds up though number of funds closed falls 2017’s massive total of $239bn appears to be more of an aberration than a new norm. Fundraising activity in the third quarter of this year is set to match 2018 levels as appetite for the asset class holds steady. Preliminary figures for the PDI Q3…
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Loan Stats at a Glance – 10/7/2019
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
The Pulse of Private Equity – 9/30/2019
Where will all the infrastructure money go? Almost three political centuries ago, expectations were high for a bi-partisan and highly funded infrastructure bill. While a lot has happened since January 2017, the promised infrastructure package was not one of them. Recall, though, the fervent efforts among PE investors to piggyback off of those plans. Blackstone…
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Leveraged Loan Insight & Analysis – 9/30/2019
1-3Q19 Leveraged issuance down 32%; Institutional volume at 5 year low The 3Q19 leveraged market logged just over US$245B of issuance, flat from year ago levels, to push 1-3Q19 totals to US$762B, the lowest nine month total in seven years. Most of the shortfall can be traced to hints of market stress which have contributed…
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Covenant Trends – 9/30/2019
Synergies & Cost Savings EBITDA Addbacks Contact: Steven Miller