Dueling bridge loans backing Netflix Inc. and Paramount bids for Warner Bros Discovery largest on record for US BSL market On the heels of Friday’s announcement that Netflix Inc. had won a bid to acquire Warner Bros Discovery’s TV and film studios as well as its streaming division forUS$83bn (including debt and equity)… Subscribe to
Defaults for the overall leveraged loan market are at lowest point since 2023. Source: The Daily Shot, PitchBook/LCD, Morningstar LSTA US Leveraged Loan Index
The surprise of 2025’s post-Liberation Day risk-on dynamic across markets has established a pattern we expect to continue well into next year. As we discussed last week, the implementation of rate cuts, the slowing of inflation and the persistence of economic growth has supported dealmakers and their financing partners. Nevertheless, attention is focused on transactions…
US Leveraged Loan Issuance Tapers Off in November November’s $53.6b of US institutional leveraged loan issuance was down $9.7b, or 15.3%, from the previous month’s $63.3b, marking a decline of 55% from the same month a year ago and the slowest month of issuance since May’s $33b…. Subscribe to Read MoreAlready a member? Log in
KBRA DLD Default Indices(TTM 12/2/25) (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
Source: SPP Capital Partners Contact: Stefan Shaffersshaffer@sppcapital.com
The record setting continues as BDC AUM reaches US$534bn Investors continue to allocate more capital to BDCs and in turn the upward growth trajectory shows no sign of slowing, with BDC assets under management (AUM) climbing to a record US$534bn in 3Q25…. Subscribe to Read MoreAlready a member? Log in here...
Average Free-and-Clear Dollar Cap as a Multiple of Pro Forma Adjusted EBITDA (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 12.3% as of 21 November, close to its five-year peak of 12.8% on 8 April) that tracks the overall performance of publicly traded business development companies (BDCs, are lenders to privately held middle-market businesses that tend to…
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com