Select Deals in the Market – 4/24/2017
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Chart of the Week: Vertical Drop
Leverage for healthcare and tech issuers was off 1Q for club deals, while rising for service firms and manufacturers.
Loan Stats at a Glance – 4/24/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
The Pulse of Private Equity – 4/24/2017
PE moves further into IT, software View PitchBook’s 1Q 2017 US PE Breakdown Report Here Thoma Bravo, Vista Equity Partners and Silver Lake used to be the paramount examples of the few notable PE firms making primarily tech and/or software plays. However, overall investment within the IT industry has grown significantly over the past several…
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Private Debt Intelligence – 4/24/2017
Private Debt Dry Powder by Geographic Focus While fundraising has been strong in recent years, private debt managers are managing to deploy capital at a similar rate to securing commitments from investors. As such, the level of dry powder has remained relatively constant in recent years, but has risen notably since the end of 2012….
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Leveraged Loan Insight & Analysis – 4/17/2017
CLO issuance is on track to meet or exceed market forecast in 2017 One third of loan arrangers, CLO arrangers and managers surveyed by Thomson Reuters LPC expect CLO issuance could reach or exceed $70bn this year. But challenges remain including a lack of new issue supply and complying with risk retention. Amidst the ongoing…
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Debtwire Middle-Market – 4/17/2017
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…
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Select Deals in the Market – 4/17/2017
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Elements of Corporate Risk (Third of a Series)
Last week’s column attracted the attention of one of our most loyal readers, and an astute observer of the credit scene. To go along with capex and cyclicality as prime corporate risks, he told us, “I would like to put in a plug for ‘Where’s the cash?’” He continued, “Maybe in middle market companies it’s not…
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