As oil prices continue to drop, taking other asset values with them, capital markets are beginning the new year sorting through what this all means for them. In high yield land, while secondary prices for energy credits took it on the chin in early December, the overall theme is “recovery.” As junk guru Martin Fridson…
The stricter regulatory environment caused lenders to scale back debt multiples for all leveraged loans at the close of last year. Source: Thomson Reuters LPC… Login to Read More...
This week we continue our conversation with Richard Petrocelli, CFO of FSC and FSFR, and Frederick Buffone, Head of Capital Markets, FSAM. Fifth Street Asset Management (FSAM) is a credit-focused asset manager with $6 billion of AUM across two public BDCs, Fifth Street Finance Corp. (FSC) and Fifth Street Senior Floating Rate Corp. (FSFR), as…
It seems like an aeon ago that a relatively small country in south-eastern Europe held the fortunes of the global economy in its hands. But less than two years has passed since Greece’s debt was restructured, and it is all too apparent that the sovereign still has the capacity to create a noise that belies its modest…
At $2.1 trillion in 2014, overall U.S. syndicated lending was just shy of 2013’s $2.14 trillion record. M&A-related financings, at $457 billion, were up 27 percent from 2013 and approaching 2007’s $471 billion record. Including financings for Burger King and Community Health Systems, leveraged… Login to Read More...
The “new normal” has arrived We’ve been highlighting the increase in add-on and minority deals for a while. In some respects the rise of buy-and-build and non-control deals has reflected the tough deal-making… Login to Read More...
Contact: Cuong Huynh cuong.huynh@spcapitaliq.com
If one were to look at the week-on-week change of the main credit indices, it would be perfectly understandable to assume that it was another uneventful few days in the markets. The Markit iTraxx Europe was trading at 61.5bps on December 18, just 1.5bps wider than the previous week. The Markit CDX.NA.IG was 3bps tighter…