Loan Stats at a Glance – 9/4/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
TheLeadLeft
Special Report: The Case for Covenants
Beginning in May 2017 The Lead Left published a series of articles on Covenants. This report consolidates those articles.
Leveraged Loan Insight & Analysis – 8/14/2017
Mixed earnings result in investors running from select BDCs BDC 2Q17 earnings season is in full swing and results have been extremely mixed keeping the landscape quite bifurcated. After returning to book value in 2Q17, the average share price to net asset value per share for the public BDCs has been back on the decline…
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Debtwire Middle-Market – 8/14/2017
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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The Pulse of Private Equity – 8/14/2017
Spotlight on the Consumer Following the announcement of the Amazon/Whole Foods merger, one telling footnote deserves more attention: private equity was eyeing Whole Foods but, due to a rapidly evolving industry, didn’t really have a chance against Amazon. An interesting scoop from Techcrunch reported that, after hearing PE firms were trying to start exploratory conversations,…
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Covenant Trends – Percentage of Deals with F&C Tranche / PF EBITDA >0.9x
Contact: Steven Miller smiller@covenantreview
Select Deals in the Market – 8/14/2017
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Bye-bor
By all accounts it was worth waiting for. The 10th Procrastination Research Conference, held last month in Chicago, featured sixty professionals – mostly psychologists and behavioral economists – from around the world. Besides reviewing the latest findings in this unusual field, attendees discussed why so many people – one in five of us – qualify…
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Lead Left Interview – Marc Daniel (Part 2)
This week we continue our conversation with Marc Daniel, managing director, mergers and acquisitions, SunTrust Robinson Humphrey. STRH is recognized as a top provider of M&A services for deals under $500 million and has executed hundreds of transactions for private and public companies, as well as financial sponsor firms, across a wide variety of industries…
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