TheLeadLeft
Loan Stats at a Glance – 2/2/2015
Contact: Cuong Huynh cuong.huynh@spcapitaliq.com
Markit Recap – 1/26/2015
The result of the Greek elections on Sunday were quite clear – an emphatic victory for the anti-austerity SYRIZA party. The Greek public have signalled that they want to move in a different direction from the path of austerity… Login to Read More...
Second Thoughts (Last of a Series)
It’s hard to know exactly when second-lien term loans first appeared in the leveraged loan market. According to S&P’s Loan Primer, they showed up in the mid-1990s, as the institutional market grew, and then vanished with the Russian debt crisis of 1998. Our suspicion is these structures evolved from “over-advance” facilities in conjunction with asset-based loans,…
Lead Left Interview – Lawrence E. Golub
This week we speak with Lawrence E. Golub, CEO of Golub Capital. Golub is a nationally recognized credit asset manager with over $10 billion of capital under management and four complementary business lines: Middle Market Lending, Late Stage Lending, Broadly Syndicated Loans and Opportunistic Credit. The Lead Left: Lawrence, what is the best way to…
Chart of the Week – Yield Signs
Supply-demand dynamics – too much cash and too few deals – have pushed second-lien spreads down since the credit crisis. Average Spread of Middle Market Second-Lien Loans Source: S&P Capital IQ… Login to Read More...
Leveraged Loan Insight & Analysis – 1/26/2015
After a slow start, flex activity reactivated in the institutional loan market last week. So far in January, upward priced flexes on first-lien institutional term… Login to Read More...
The Pulse of Private Equity – 1/26/2015
The U.S. Company Inventory is Plateauing One of the concerns facing private equity over the past few years is the rising number of companies under PE control. The U.S. company inventory,… Login to Read More...
