Is the middle market at an inflection point? Download PitchBook’s Report here. Much has been said on the consistent strength of the US middle market—much of it by us. Commenting as a data provider, we’ve found it tricky to creatively analyze the middle market without repeating ourselves. That said, there are a few unique ways to…
Oil & gas names drop on lower oil prices, secondary loan market softens Source: Debtwire Par, Markit Oil and gas loans have moved lower recently in tandem with the sharp decline in oil prices and the softening of the broader loan market. While the average bid on oil and gas term loans is up by…
Europe-Focused Private Debt Assets under Management Reach $200bn The European private debt universe has exploded over the last decade, and funds focused on the region now hold $200bn in assets under management. Europe has been a key area of interest for investors in private debt. In fact, almost half (47%) of private investors surveyed by…
Average Interest Coverage for Loan Deals Contact: Steven Miller
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
For those of you who sensed last Friday was a special day, but couldn’t put your finger on why, we offer this explanation: On November 16, the annual General Conference on Weights and Measures in Paris voted unanimously to redefine the kilogram. For decades metrologists have been in a tizzy since Le Grand K, the…
Since 2015 investors in the Leveraged Loan Index are being compensated less-well for risk.
When market makers start sending runs based on nation states rather than sectors it may be a harbinger of fundamental change in how European credit is traded. That is precisely what we are seeing as the Brexit process descended into chaos. A number of UK cabinet members have resigned in protest at Theresa May’s draft…
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…