Select Deals in the Market – 10/2/2017
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TheLeadLeft
Spot-lite on Cov-lite (First of a Series)
Our story last week of the hundred-year old fruitcake captured readers’ attention. Tributes to this underappreciated treat poured into the Lead Left mailbox. “It’s believed there’s only one fruitcake in existence,” one friend wrote. “It gets passed around during the holidays from family to family. Now we all know where it came from.” There’s also…
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Chart of the Week: Cov-Liter
While middle market cov-lite loans only had a brief run pre-crisis, they’ve been a market feature since 2011.
The Pulse of Private Equity – 10/2/2017
Less debt today, lower returns tomorrow? Download PitchBook’s 2017 Global PE Deal Multiples Report: III Here According to our just-released 3Q Deal Terms Survey results, average equity contributions have climbed to 57% of EV year-to-date. That’s the highest percentage in our dataset, which includes survey results dating back to 2012. Whenever we release these datapoints, we caution…
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Loan Stats at a Glance – 10/2/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Covenant Trends – 9/25/2017
Avg. Unadjusted Leverage for M&A-Related Loans Contact: Steven Miller smiller@covenantreview
Leveraged Loan Insight & Analysis – 9/25/2017
Lender Survey: Are the structural characteristics of loans changing for good? Just over half of the audience gathered during Thomson Reuters LPC’s 23rd Annual Loan & CLO Conference said that structures have not changed for good but rather the pendulum will swing back when credit quality deteriorates. However, just over one fifth disagreed, reporting that…
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Select Deals in the Market – 9/25/2017
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Feeding the Beast
The world’s oldest fruitcake was found in Antartica in a building left from the expedition of Robert Falcon Scott. The British explorer died during his 1912 attempt to reach the South Pole. But not apparently from eating the fruitcake. The perennial delicacy was found covered in ice, and left “wrapped in paper..and in its original…
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