TheLeadLeft
Loan Stats at a Glance – 4/6/2015
Contact: Cuong Huynh cuong.huynh@spcapitaliq.com
The Cargo Pants Strategy
How much direct lending capacity is in the middle market? Welcome to one of the most frequently asked (and most challenging) questions in the world of leveraged lending. Several factors make this question topical. First, banks are being forced to scale back their ambitions in “risky loans” as regulators bury them with restrictions. Non-regulated entities…
Markit Recap – 3/30/2015
Lufthansa is one of several airline credits to have seen its CDS spreads tighten in line with the falling oil price. But the tragedy last week has led to investors focusing on the German firm, and the scrutiny is inevitably negative. At the beginning of March Lufthansa’s… Login to Read More...
Lead Left Interview – Patrick Dalton (Part 2)
This week we continue our conversation with Patrick Dalton, CEO, Gordon Brothers Finance Company (GBFC). GBCF is a commercial finance company focused on middle market lending. They originate and underwrite secured loans for both asset-rich and cash flow generating businesses across a wide spectrum of industries. Second of two parts – View part one The Lead Left:…
The Pulse of Private Equity: Is Kessler Right?
Andy Kessler published an attention-getting op-ed in the Wall Street Journal this week. “The glory days of private equity are over,” he says, citing rising interest rates, more PE firms competing for… Login to Read More...
Leveraged Loan Insight & Analysis – 3/30/2015
US syndicated loan volume took a tumble in 1Q15 to log just over $350 billion, down 27% compared to year ago levels and a more substantive 40% drop over 4Q14 totals. The decline was most notable among leveraged issuers who pushed almost… Login to Read More...
Chart of the Week – The Bigger They Are
As banks retreat under regulatory pressures, non-banks are bulking up in their capacity to do larger middle market deals Average Middle Market LBO Size Source: Thomson Reuters LPC
