Chart of the Week: Quantum Leap
Middle market sponsored loans without maintenance covenants sport leverage a full turn above those with covenants.
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Lead Left Interview – Ken Wormser and David Powar
This week we chat with Ken Wormser and David Powar, managing partners at GreensLedge. Founded in 2008, GreensLedge is an independent investment banking firm focused on the global structured credit and alternative investment marketplace. With offices in New York, London, Tokyo and Seoul, the firm provides advisory and related transactional services to issuers, investors and…
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Private Debt Intelligence – 2/19/2018
European Private Debt Deals Increased private debt financing over the past seven years can be largely attributed to the continuing retreat by banks from loan markets under the pressure of tougher capital rules. As a result, private equity transactions and corporate acquisitions, which were largely financed by banks in the past, are increasingly backed by…
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Loan Stats at a Glance – 2/19/2018
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Markit Recap – 2/12/2018
iTraxx skew widens amid volatility Rates and equity markets are now embroiled in a tussle that has upset the pervasive complacency evident at the beginning of the year. Has this affected the credit markets? Naturally. The primary credit indices experienced considerable volatility; perhaps not as newsworthy as the VIX, but notable nonetheless…. Subscribe to Read
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Leveraged Loan Insight & Analysis – 2/12/2018
M&A loan financings comprise 30% of completed U.S. leveraged issuance this quarter The U.S. leveraged loan market continues to chug along at a steady pace. So far this quarter there has been US$110bn in completed leveraged loan issuance. The mix of deals comprises a healthy chunk of M&A. There has been US$33bn in completed leveraged…
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Middle Market Deal Terms at a Glance – Feb 2018
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
The Pulse of Private Equity – 2/12/2018
How much potential is in the middle market? Quite a bit Download PitchBook’s 2017 Annual US PE Middle Market Report click here. The middle market continues to outpace the broader private equity market. According to PitchBook’s 2017 Annual US PE Middle Market Report, deal volume in the $100M-$1B range last year was about even with…
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LevFin Insights: High-Yield Bond Statistics – 2/12/2018
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Debtwire Middle-Market – 2/12/2018
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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