LevFin Insights: High-Yield Bond Statistics – 10/15/2018
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
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Third Quarter Report (Second of a Series)
For two weeks in a row we’ve been blessed with memorable quotes from top market observers. We wrote in our last column about Fed chair Powell’s comment that the current cycle could go on “indefinitely.” This week’s nugget comes from our long-time friend, Steve Miller, the chief executive of Fulcrum Financial. “You can’t fight the…
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Chart of the Week: Yield of Dreams
Debt to ebitda has risen steadily for institutional middle market term loans, but yields are up as well.
Private Debt Intelligence – 10/15/2018
Direct Lending Sees Banner Q3 Although private debt fundraising activity slowed in Q3 2018, with the quarter recording 31 funds holding a final close and securing a total of $24bn in capital, direct lending had a banner quarter. In Q3, four distressed debt vehicles raised $2.4bn, eight mezzanine funds raised $1.5bn and 15 direct lending…
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Loan Stats at a Glance – 10/15/2018
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Middle Market Deal Terms at a Glance – Oct 2018
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Leveraged Loan Insight & Analysis – 10/8/2018
Syndicated middle market sponsored volume tanked in 3Q18 The summer of 2018 was not noteworthy for those middle market lenders that focus on sponsored deals. Syndicated issuance took a nose dive to just US$13.7bn in 3Q18, down 43% and 30% from 2Q18 and 3Q17 levels respectively. “We are only able to get crumbs in terms…
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Markit Recap – 10/8/2018
Credit market veterans are all too aware that the determination of CDS credit events is far from straightforward. This can be seen as a weakness of the product, but it is difficult to avoid given the irregularity of bond contracts and the smorgasbord of insolvency laws across different jurisduictions. The case of Astaldi is a…
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The Pulse of Private Equity – 10/8/2018
Foreign investment in the spotlight Download PitchBook’s Report here. Foreign PE investment in US-based companies has been strong going back to 2014. And consistent. Since 2014, non-US investors were involved in about 12% of all US-based PE investments per year. The US private equity market is easily the most developed market available, and while the European…
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