Loan Stats at a Glance – 6/8/2015
Contact: Cuong Huynh cuong.huynh@spcapitaliq.com
TheLeadLeft
Floor Plans
“The idea that the loan market could trade the floors that exist today for additional spread is pure fantasy.” – Beth MacLean, bank portfolio manager, PIMCO. It’s March 2008. The Fed has dropped rates precipitously to forestall a liquidity crisis. One-month Libor craters to 2.8% from 5% only three months before. Libor spreads for single-B…
Chart of the Week – Falling Floors
As Libor rates dropped post-crisis, Libor floors on leveraged loans have followed suit, although remaining in the 100 bps range. Source: Thomson Reuters LPC, quarterly middle market term loan yields
Markit Recap – 6/1/2015
Many expect the European economy to perform better this year – not difficult, come might say – but recent spreads movements suggest the credit markets are sceptical. Since the index roll on March 20, the Markit iTraxx Europe has widened by 10bps to 65bps…. Login to Read More...
Lead Left Interview – Brett Hickey
This week we chat with Brett Hickey, chief executive officer, Star Mountain Capital. Based in New York with regional offices and a network covering over 25 U.S. cities, Star Mountain provides strategic partner capital for private equity, mezzanine and other private capital funds as well as growth debt and equity financing for small and medium-sized…
The Pulse of Private Equity – 6/1/2015
Energy prices should boost B2B Assuming low energy prices are sustained, B2B PE activity should benefit, especially in the middle market. Activity is already pretty strong in the U.S., with another 300 deals done in Q1 totaling $30 billion. But there’s reason to be more optimistic. Much of the… Login to Read More...
Leveraged Loan Insight & Analysis – 6/1/2015
After declining dramatically for two consecutive quarters due to fears of being penalized by the regulators, LBO leverage is back on the rise this quarter. Debt to EBITDA on large corporate and institutional middle market buyout deals has risen to 6.27 times and 5.50… Login to Read More...
Loan Stats at a Glance – 6/1/2015
Contact: Cuong Huynh cuong.huynh@spcapitaliq.com