Select Deals in the Market – 10/8/2018
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TheLeadLeft
Third Quarter Report (First of a Series)
William McChesney Martin, the chairman of the Federal Reserve under five presidents from Truman to Nixon, famously said the Fed’s job was to remove the punch bowl just as the party was warming up. Seems like the current occupant of that job expects the bar to be open all night. As our Quote of the…
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State of the Capital Markets – Third Quarter 2018 Review and Fourth Quarter 2018 Outlook
Review of Current Market Conditions/ Analysis of Capital Markets Metrics/ Review of Credit Quality/ Outlook for Fourth Quarter 2018
Chart of the Week: Buyout Bites
Over the past three years, the average middle market LBO has generally remained range-bound, between $150-200 million.
PDI Picks – 10/8/2018
The importance of explaining Brexit Brexit makes a majority of LPs nervous about European credit markets, according to a PDI survey. Investors may have had almost two-and-a-half years to process and prepare for the UK’s departure from the EU, but that doesn’t mean they aren’t still wary of the end result, data from a PDI…
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Covenant Trends – 10/8/2018
Accordion Inside Maturity Contact: Steven Miller
LevFin Insights: High-Yield Bond Statistics – 10/8/2018
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Private Debt Intelligence – 10/8/2018
Private Debt Fundraising Slows in Q3 Q2 2018 was the third-largest fundraising quarter ever seen for private debt, as 36 funds secured a combined $42bn. This pace of fundraising has not been maintained in Q3, with 31 funds closed in the quarter raising a total of $24bn. However, funds closed in the first three quarters…
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Debtwire Middle-Market – 10/8/2018
Share of highly levered deals edge higher in 2018 Source: Debtwire Par Leverage levels on new deals have drifted marginally higher this year, without a dramatic increase in any particular ratings category. Looking at marketed leverage levels, the share of highly levered transactions has trended upwards, with 32% of deals levered 6x or more, up…
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