Venturing into new territory Download PitchBook’s Report click here. It would have been hard to predict ten years ago, but private equity is becoming a prominent buyer of venture-backed startups. According to our 2017 Annual VC Liquidity Report, buyouts now account for almost a fifth (18.5%) of all VC-backed exits, up from about 14% in…
Synergies & Cost Savings EBITDA Addbacks (Capped vs. Uncapped vs. None Allowed) Contact: Steven Miller
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Middle market sponsored loans without maintenance covenants sport leverage a full turn above those with covenants.
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…
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…
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
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
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…