LevFin Insights: High-Yield Bond Statistics – 4/23/2018
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
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Leveraged Loan Insight & Analysis – 4/23/2018
Unitranche volume dropped meaningfully in 1Q18 Thomson Reuters LPC’s newest unitranche league table provides insight into a very private, opaque market. After peaking at a robust $8.2B in 4Q17, unitranche volume fell off a dramatic 63% in 1Q18. What drove the fall off? Sponsors typically gravitate to the unitranche for ease of execution in M&A…
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Private Debt Intelligence – 4/23/2018
Private Debt Funds in Market: An Overview In Q1 2018, direct lending vehicles – a strategy that typically dominates private debt fundraising – accounted for roughly just 36% of funds closed and a similar proportion of aggregate capital raised. This proved to be a decline in proportions from 2017, when the strategy made up 47%…
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Middle Market Deal Terms at a Glance – Apr 2018
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Loan Stats at a Glance – 4/23/2018
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Markit Recap – 4/16/2018
iTraxx Europe – options can influence volumes Fundamental factors rightly garner the most attention when investors try to ascertain why markets move. Even if one regards markets as perfectly efficient and favour index tracking, it would be foolhardy to completely ignore real world influences when managing money. But the credit markets, in particular, warrant analysis…
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Leveraged Loan Insight & Analysis – 4/16/2018
U.S. LBO issuance shows more bark than bite in 1Q18 There was a lot of noise around LBO activity last quarter, but in the end 1Q18 U.S. LBO loan issuance totals finished at a modest US$19bn, 17% behind 4Q17’s level of US$22.9bn and 24% behind 1Q17’s US$25.2bn. The good news is that a lot of…
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Spotlight on Healthcare – A Special Industry Report (Fifth of a Series)
One of the most interesting features of the new healthcare landscape is the evolving relationship between patients and doctors. As we detailed in our first instalment of this special Lead Left series, retail giants are teaming with healthcare behemoths to capture patients wherever they go. That fits well with the 24/7, wanting everything all the…
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Debtwire Middle-Market – 4/16/2018
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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