Loan Stats at a Glance – 10/14/2019
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
TheLeadLeft
The Pulse of Private Equity – 10/7/2019
Add-ons keep surging Download PitchBook’s Report here. Add-ons now account for 68% of all US PE buyouts. If that pace holds, 2019 will notch another high-mark for the add-on/LBO ratio, which has been trending up for the past decade. That’s according to PitchBook’s 3Q Breakdown Report, just released this week. Two crosswinds have helped boost that…
Already a member? Log in here
Leveraged Loan Insight & Analysis – 10/7/2019
1-3Q19 Sponsored loan volume off 48%; LBO volume at 3-year low Less than US$90bn in syndicated loan volume backing PE sponsor activity was completed in the US market in 3Q19, the third lowest quarterly total in the last three years, and a 30% drop year over year. In turn, less than US$265bn in sponsored loan…
Already a member? Log in here
LIBOR to SOFR: Pros and Cons
Anthony Mancinelli, the world’s oldest barber, passed away last week at the age of 108. Mr. Mancinelli started cutting hair in 1923, when Warren Harding was President, and only retired this past summer – 96 years later. When asked for his secret to longevity, the barber from Naples replied, “I eat thin spaghetti.” We haven’t […]
Stirred, Not Shaken
D28 made headline news last week. No, we’re not referring to a new Stars War character. And it’s not a winning move in German Bingo. D28 is an iceberg. In what glaciologists said was not a global warming-related event, D28 “calved” off from the Amery Ice Shelf in East Antarctica, making quite a splash. Depending…
Already a member? Log in here
Chart of the Week: No Climate Change
Despite lower rates and higher spreads, CLO formation is on track for a good year.
Covenant Trends – 10/7/2019
Percentage of Loans with Uncapped Synergies & Cost Savings EBITDA Addbacks Contact: Steven Miller