Middle Market Deal Terms at a Glance – November 2017
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
TheLeadLeft
Lead Left Interview – Daniel Winick & Andrew Young
This week we chat with Daniel Winick, a partner in the banking and finance group of Clifford Chance US LLP, and Andrew Young, a senior associate in the same group. Their practice includes representing sponsors, corporates, lenders and participants in multijurisdictional leveraged and other finance transactions. Clifford Chance is a multinational law firm that is…
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Private Debt Intelligence – 11/13/2017
Direct Lending Sees Record Fundraising Private debt fund managers have experienced increased fundraising success, and the direct lending industry has especially benefitted from high levels of fundraising activity in recent years. Direct lending has already seen record fundraising levels in 2017, and aggregate capital raised in the year has already surpassed the capital raised in…
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Loan Stats at a Glance – 11/13/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Select Deals in the Market – 11/6/2017
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Covenant Trends – 11/6/2017
Percentage of Loans with Maturity or Acquisition-Related MFN Carveouts (2017) Contact: Steven Miller
State of the Loan Market (Second of a Series)
The backdrop for US credit got a boost from several corners last week. First, the nomination of Jerome Powell to be the next Fed chief ensured monetary policy would be, if not unchanged, at least in experienced hands. Also, the October labor report – 261,000 new jobs added– came in pretty much where economists expected….
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Leveraged Loan Insight & Analysis – 11/6/2017
Investors have increasingly warmed to riskier issuers since 2016 Since the second half of 2016, investors have increasingly gotten more comfortable with riskier names. According to the Flex Factor, which aggregates price and structural flex activity on institutional loans, B3 rated issuers have seen more issuer friendly changes to their loans now compared to a…
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Debtwire Middle-Market – 11/6/2017
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 comprises of more…
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