MARKIT RECAP
The apparent contradiction between optimism on economic growth and ultra-low government bond yields is preoccupying investors as we head into the summer…. Login to Read More...
TheLeadLeft
LOAN STATS AT A GLANCE
Source: S&P Capital IQ Contact: Robert Polenberg robert.polenberg@spcapitaliq.com
Lead Left Interview – Justin Kaplan Part 2
This week we continue our conversation with Justin Kaplan, Partner, Balance Point Capital Partners, a lower-middle market investment firm with offices in Westport, CT and Hartford, CT. Second of two parts – View part one The Lead Left: Cov-lite? For a $5 million ebitda business? Justin Kaplan: When I say “cov-lite,” I mean that mezz investors usually get three or…
On Demand
We don’t know anyone who’s seen the latest Godzilla movie, yet it’s grossed more than $375 million worldwide. On the other hand, the clearly-destined-to-be-a-cult-classic Vampire Academy has barely scraped in $15 million. Life, we suppose, is unfair. While not as profound on the scale of life’s mysteries, we have also cogitated on the ongoing spectacle…
Last of the Dinosaurs
It was the finale of the longest, slow-motion credit tumble ever witnessed, and certainly the most anticipated spectator event since the long-awaited Family Guy movie. On April 29, Energy Future Holdings filed for bankruptcy creating the largest default – $19.5 billion – in the history of leveraged loans. Creditors have been jostling for position for many months, a dance…
CHART OF THE WEEK
Oh, That Default The long-awaited default of Energy Future Holding’s$19.5 billion in loans, while pushing April’s figure by volume to 4.6% – a four-year high – is not expected to signal any change in analysts’ positive loan performance outlook. … Login to Read More...
MARKIT RECAP
It’s been a while since the eurozone’s periphery had any meaningful impact on broader market sentiment. Mario Draghi’s “whatever it takes” pronouncement in 2012 put paid to the regular bouts of volatility emanating from Europe’s beleaguered sovereigns…. Login to Read More...
Leveraged Loan Insight & Analysis
The middle market yield premium on first-lien institutional term loans has dropped to just 66bp this quarter; its lowest level since 3Q09. The large corporate market has seen demand and supply re-balancing as more new money deals come to market while at the same time retail inflows reversed for a few weeks. As a result, at…