Chart of the Week – Down Shift
Leverage declined modestly, though almost two thirds of 4Q deals were 6x total leverage or higher. US Middle Market Leverage Multiples on Institutional Deals Source: Thomson Reuters LPC
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Leveraged Loan Insight & Analysis – 1/18/2016
Middle market lending failed to impress in 2015 as both the sponsored and non-sponsored markets were down roughly 30% year-over-year. In the non-sponsored market, volatility spooked issuers in the second half of the year causing many to hold off… Subscribe to Read MoreAlready a member? Log in here...
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The Pulse of Private Equity – 1/18/2016
Is There a Glut of Private Equity Firms? Since the turn of the century, there has been a steady surge in the number of private equity firms that are active worldwide. From 1,545 in 2000, the number has crested to 3,918, an increase of over 153%. As was perhaps to be expected, the rate… Subscribe
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Loan Stats at a Glance – 1/18/2016
Contact: Daniel Mena daniel.mena@spcapitaliq.com
Markit Recap – 1/11/2016
If European credit investors had to name two names damaged by the precipitous fall in commodity prices, it is likely that Glencore and Anglo American would top the poll. The two mining firms have seen their credit spreads widen dramatically and are now quoted upfront, the only credits in the Markit iTraxx Europe… Subscribe to
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State of the Capital Markets – Fourth Quarter 2015 Review and First Quarter 2016 Outlook
Need timely market data and expert commentary to share with your clients? Download our State of the Capital Markets presentation! As a subscriber to The Lead Left, you’ll get: Review of Current Market Conditions Analysis of Capital Markets Metrics Including Covenants, Pricing, and Leverage Review of Credit Quality Outlook for First Quarter 2016
2016 – A Look Ahead in the Middle Market (Second of a Series)
“People are still standing.” So a friend of ours characterized the broadly syndicated loan market at the close of a bumpy 2015. From his perch at a big bank trading desk, he put a good face on investor appetite. “There are still bids,” he told us. Another large cap sales pro agreed. “Investors are putting…
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Chart of the Week – Assembly Line
CLO formation last year totaled $93 billion, off 2014’s record $124 billion, as managers wrestle with risk retention. US CLO Activity Source: S&P LCD