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Markit Recap – 9/10/2018

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  It’s the 10th anniversary of Lehman’s collapse and we are being inundated with retrospectives and predictions of what will cause the next crisis. Many are pointing towards emerging markets as a likely catalyst, a logical conjecture given the tightening in monetary policy that is underway in the US…. Subscribe to Read MoreAlready a member?

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Leveraged Loan Insight & Analysis - 9/10/2018

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Primary yields have widened across the board in 3Q18 The average first-lien institutional term loan yield, assuming a three-year term to repayment is 6.41% so far this quarter, up from 5.77% in 2Q18. One of the main drivers behind increasing yields is the shift in the deal mix. So far in 3Q18, 58% of the…

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Lead Left Interview – Kevin Alexander and Michael Moravec (Part 2)

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This week we continue our conversation with Kevin Alexander, the deputy chief executive officer, Americas, and Michael Moravec, the head of investment banking, Americas, for Natixis. Natixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the 2nd largest banking group in France. Second of two parts –…

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PDI Picks – 9/10/2018

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Mezzanine debt is subordinate no more After a dip in mezzanine fundraising in 2017, credit managers are hoping limited partner demand for the strategy is strong in 2018 with almost 200 funds in market. Senior debt and distressed debt have been the favoured investment choices for limited partners recently, but those strategies may be fading…

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Covenant Trends - 9/10/2018

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Percentage of Loans that Allow Uncapped Synergies & Cost Savings EBITDA Adjustments, Sponsored vs Non-Sponsored (YTD) Contact: Steven Miller