TheLeadLeft

Markit Recap – 10/17/2016

Published by on

There are no shortage of factors that have troubled market participants this year: Brexit; US monetary policy direction; fragility in European banks; oil prices. All of these issues, and others, have caused credit spreads to widen at various intervals in 2016.

But the last few weeks have seen calmness return to the credit markets. The VolX Europe, which shows the realised volatility in the Markit iTraxx Europe index, hit 26.4% this week, which is the lowest level for almost two
years...

Subscribe to Read More
Already a member? Log in here
Leveraged Loan Insight & Analysis -10/17/2016

Published by on

Influx of second-lien issuance has investors pushing back on terms

Recently, investors have been more open to the lower rated, higher return type of loans that were more scarce earlier in the year. In particular, second-lien issuance has picked up. Just two weeks into October and there has already been US$1.5bn in completed second-lien loan issuance which would account for 57% of second-lien issuance for all of 2Q16. This influx of higher yielding assets into the market has caused more push back from investors during negotiations...

Subscribe to Read More
Already a member? Log in here
Dollars and Scents

Published by on

News reached us over the weekend of a new trend in baseball. Apparently several Chicago Cubs relievers are applying copious amounts of perfume as a good luck charm. Turns out players from last year’s Kansas City Royals did the same thing. And they won the World Series. The Cubs manager tweeted, “Aroma still matters.” A…

Subscribe to Read More
Already a member? Log in here
Covenant Trends - 10/17/2016

Published by on 0

Average First Lien Headroom under Debt Incurrence Test Based on Initial PF Leverage, YTD Contact: Steven Miller smiller@covenantreview.com