Burger King isn’t just selling Whoppers any more. Last week the second largest burger giant began serving hot dogs at all its locations year-round. “We’re applying sixty years of flame-grilling expertise,” said Alex Macedo, President of North America. “We also have to chop the onions a little differently,” he added. The thesis regarding opportunities today…
While their share of European leveraged loans has steadily dropped to 31%, banks are still about where they were pre-crisis. Source: S&P Capital IQ; Primary Market by Broad Investor Type, 2009 date not meaningful
This week we chat with Edwin Cass, Chief Investment Strategist, Canada Pension Plan Investment Board. Mr. Cass is responsible for CPPIB’s overall fund level investment strategy. He also chairs the Investment Planning Committee, which approves all new investment programs and oversees all portfolio risks, including passive, active, credit and liquidity risk. The Lead Left: Ed,…
How much longer will the M&A boom sustain PE exits? The M&A boom has been very kind to private equity sellers. Last year saw PE sellers close over 1,200 sales to strategic buyers, with total value just eclipsing $360 billion. That leaves the past three years at a total of $963 billion in total value…
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Despite significant market volatility, PE shops are moving full speed ahead on select mega deals in 2016. While the dataset is still limited, the average purchase price for large corporate buyout deals so far in 2016 has skyrocketed to US$5.8bn, up from just US$1.8bn in 2015 and surpassing the US$5.1bn record set in 2007…. Subscribe
Contact: Timothy Stubbs timothy.stubbs@spcapitaliq.com
The shrinking of balance sheets has become a common theme in recent years, particularly in the financial sector. Investors are punishing banks that either unwilling or unable to implement a more conservative financial strategy. It is increasingly clear that the same phenomenon is now observed in the commodities sector. Mining firms need to scale back their…
Discounts on first-lien institutional term loans haven’t been this wide since 2011. The average original issue discount (OID) is 98.02 so far this quarter, almost on par with 4Q15’s 97.98 average. Only 13% of first-lien institutional term loans have been done at an OID of 99.5 or narrower this quarter, slightly down from 16% last…