Select Deals in the Market – 7/30/2018
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Splash Zone
To the best of our knowledge, the village of Innaarsuit, Greenland (pop. 169) is not on any “Best Summer Vacation” lists. Being in the Arctic Circle, it’s cold and dark most of the year. Not much exciting going on. But that has changed in a dramatic fashion. Last month an iceberg weighing 11 million tons…
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PDI Picks – 7/30/2018
A private debt fundraising hangover The steep decrease in H1 2018 may just be a function of the incredible amount of capital alternative lenders collected last year. Private debt managers are seeking the least amount of capital six months into the year since 2015, a fact that could be reflective of the broader fundraising market…
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The Pulse of Private Equity – 7/30/2018
Another record year in the making? Download PitchBook’s 2Q 2018 US PE Middle Market report here. There are many themes worth discussing in the middle market, but one trend we can’t ignore is its consistent strength over the years. On cue, 2018 is on pace for yet another record year for both counts and value,…
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Debtwire Middle-Market – 7/30/2018
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…
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Leveraged Loan Insight & Analysis – 7/30/2018
Middle market dominates for LBO activity with direct lenders stealing share from syndicated market New Co/New Traditions! Join us for a half day on September 12th for our 24th Annual Loans Conference. The middle market continues to remain a hot spot for LBO activity – however the numbers don’t always show it. Pre credit crisis (2004-2008), roughly…
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LevFin Insights: High-Yield Bond Statistics – 7/30/2018
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Covenant Trends – 7/30/2018
Percentage of Deals with 75+ bps MFN Contact: Steven Miller
Chart of the Week: Blending Down
As all-in senior debt spreads have compressed, so have blended spreads for one-stop credit solutions.