Banks appear to be getting a bit more comfortable with leverage on middle market sponsored deals post their SNC review this year. Every quarter, Thomson Reuters LPC asks banks what is their maximum leverage cap for middle market sponsored-backed deals…. Login to Read More...
It was unavoidable, we suppose, that a retired senior bank credit officer would be compelled to respond to our previous column. High debt-to-ebitda leverage, we asserted, was misleading and should be viewed in context of other considerations. Though preferring anonymity, this self-described “credit dinosaur” has been known to us for decades as an experienced participant…
Middle market issuance this year for second liens is skewed to higher growth industries, with technology leading the way. Source: Thomson Reuters LPC… Login to Read More...
This week we speak with Ian MacTaggart, President & COO, and Joan McCabe, Managing Director, Brynwood Partners. Founded in 1984, Brynwood Partners is a controlled oriented, operationally-focused lower middle market private equity firm that is consumer sector focused and has established a strong niche in the corporate carve out sector. Brynwood is currently investing Brynwood…
Credit markets are now accustomed to low volatility, but there were signs over the third-quarter that the climate is changing. North American CDS, as represented by the Markit CDX.NA.IG index, traded in a relatively broad range during the quarter. The index hit 55bps in early July, its tightest level since October 2007…. Login to Read More...
Mega-deals Down, Mega-exits up Few investors are as opportunistic as PE firms, which need to invest at entry points low enough (and exit high enough) to justify their investment models. With valuations where they are right now,… Login to Read More...
Source: S&P Capital IQ Contact: Robert Polenberg robert.polenberg@spcapitaliq.com
Over $429 billion of syndicated loan volume worked its way through the market in 3Q14, to push 1-3Q14 totals north of $1.5 trillion. Although year to date issuance was down a relatively modest 5 percent year over year, 3Q14 lending alone was down 28 percent compared to 2Q14 and off 17 percent… Login to Read