Chart of the Week – Sweep Dreams
The share of middle market borrowers with 50% excess cash flow sweeps has grown since the credit crisis. Source: S&P Capital IQ
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The Pulse of Private Equity – 5/4/2015
80% of 1Q Healthcare Buyouts were Add-ons Bain & Company did a recent study on healthcare investing, looking at investment trends from a breadth and depth perspective. Turns out that healthcare buyers, both strategic and financial,… Login to Read More...
Leveraged Loan Insight & Analysis – 5/4/2015
The average yield on first-lien institutional loans is in the 5.18 percent context so far in 2Q15, down from 5.78 percent in 1Q15. After widening above the 6 percent threshold in 4Q14, yields have declined this quarter as demand continues to outstrip supply in the leveraged loan market…. Login to Read More...
Loan Stats at a Glance – 5/4/2015
Contact: Cuong Huynh cuong.huynh@spcapitaliq.com
Markit Recap – 4/27/2015
Low interest rates have helped fuel M&A activity, so it is no surprise that several large transactions have been announced in recent months. But it’s not always the market that determines deals. Governments and regulatory bodies also have a part to play, as we saw with the collapse of the Comcast bid for Time Warner Cable…
Why Credit Standards Matter (First of a Series)
Much attention has been paid to regulators’ concerns over banks pushing leverage and other risk elements. What goes missing in these discussions is what lenders, including non-banks, think about the credit environment we’re currently in. Specifically, regardless of what the Fed, OCC, and FDIC (the Big Three) are doing with their Leveraged Lending Guidance, the…
Lead Left Interview – Doug Cruikshank & Rafael Castro (Part 2)
This week we continue our conversation with Doug Cruikshank, Managing Partner and Rafael Castro, Director, Enhanced Capital. Enhanced Capital is a small business investment firm focused on established lower middle market companies often overlooked by traditional sources of capital due to location or size. Second of two parts – View part one The Lead Left: What are…
Chart of the Week – Sweep Stakes
The total share of loans that waived or reduced cash flow sweeps is still not back to pre-crisis levels, but those that waived sweeps is at an all-time high.