Debtwire Middle-Market – 7/1/2024
CLOs fuelling demand for paper, driving repricing deals The driving force behind such an explosion in repricing deals is demand for new paper, which is currently outstripping the offer…. Login to Read More...
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Private Debt Intelligence – 7/1/2024
India overtakes China in private debt AUM Read more in Preqin’s Insights+ Report: Alternatives in APAC 2024 Private debt in APAC has nearly doubled in the five years leading to September 2023. growing from $62.5bn in AUM to $123.5bn…. Login to Read More...
Covenant Trends – 7/1/2024
Average Free-and-Clear as a Multiple of Pro Forma Adjusted EBITDA (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Middle Market & Private Credit – 7/1/2024
Fitch U.S. MM CLO Spotlight – May 2024 Click here to learn more. ‘CCC’ Exposure Marginally Up Exposure to assets with Fitch IDRs or credit opinions of ‘CCC+’ or below, excluding nonrated assets, increased by 20 bps to 18.6%, compared to last month and 3.5% higher than a year ago…. Login to Read More...
KBRA Direct Lending Deals: News & Analysis – 7/1/2024
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
PDI Picks – 7/1/2024
The rise of the periphery Specialty finance is grabbing the limelight by offering strong returns, downside protection and diversification. With many investors having reached a level of exposure to direct lending that they are comfortable with, it’s natural that they should then begin casting around for more esoteric opportunities. One area claiming attention is specialty…
Leveraged Loan Insight & Analysis – 7/1/2024
Leveraged loan and HY bond volume surge in 2Q24 amid refinancing activity Leveraged issuers raised over US$484bn via the loan and high yield bond markets in 2Q24, the strongest quarterly results since 1Q21…. Login to Read More...
Loan Stats at a Glance – 7/1/2024
Source: PitchBook LCDContact: Ryan Brownryan.brown@pitchbook.com
Chart of the Week: Lower Risk, Higher Yield
Among a basket of traded credit strategies, leveraged loans are showing well. Source: The Daily Shot(Past performance is no guarantee of future results.)
Fast and Furious (Second of Two Parts)
The 60/40 allocation model for investing has taken some hits since the Fed began raising rates over two years ago. 2022 saw a sea of red ink for liquid strategies – both the “60” and the “40” – with improved returns last year and so far in 2024. Sophisticated institutional investors long ago adopted the…