LevFin Insights: High-Yield Bond Statistics – 3/12/2018
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
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Leveraged Loan Insight & Analysis – 3/12/2018
Institutional term loans spreads are back to 2007 levels Average spreads on first-lien institutional term loans have dropped to their lowest level since 4Q07. The drop has been across the board. The average spread for large corporate issuers is 320bp so far in 1Q18; this is 10bp below their 4Q17 levels and only 8bp above…
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Middle Market Deal Terms at a Glance – Mar 2018
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Debtwire Middle-Market – 3/12/2018
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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PDI Picks – 3/12/2018
Bad news bears: a sign of the times Last year saw a huge amount of money raised by private credit firms, making it a record year according to PDI data. North American LPs might be lowering their expectations though. Earlier this year, Private Debt Investor conducted its annual LP survey, asking investors about their allocation…
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Dream Jobs
News reached us last weekend of an incredible message-in-the-bottle story. Turns out a woman strolling a beach in Western Australia found a bottle that, it was later discovered, had been tossed overboard from a German merchant ship in 1886. Further research by a museum curator revealed that a Captain O. Dieckmann of the Paula had…
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Lead Left Interview – Dee Dee Sklar (Part 2)
This week we continue our conversation with Dee Dee Sklar, Vice Chair of Subscription Finance, Asset-Backed Finance, Wells Fargo Securities. ABF provides direct structured lending as well as the underwriting and distribution of asset-backed securities for over 550 clients and a risk portfolio of approximately $122BN across consumer, commercial, residential, corporate debt finance and subscription…
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The Pulse of Private Equity – 3/12/2018
Dance with the one who brought you Download PitchBook’s Report click here. Limited partners have found plenty to complain about over the years. They aren’t high maintenance per se, but they do fuel the private equity industry, take an opportunity risk in doing so and often feel short-changed by GPs hungry for more management fee…
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Chart of the Week: Risk and Return
Middle market loans sold to institutional investors are showing higher leverage, but also better yields.
Private Debt Intelligence – 3/12/2018
Investors Remain Satisfied with Private Debt In December 2017, Preqin surveyed a sample of the private debt investor community to gauge their perception of the asset class, the extent to which they felt that their private debt investments have lived up to expectations over the past year, as well as their intentions for their private…
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