This week we chat with Neil Cummings, G. Thomas Stromberg and Richard Levin, partners at Jenner Block, an international firm with offices in Chicago, London, Los Angeles, New York, and Washington D.C. Lead Left: Gentlemen, you have written extensively about the legal issues surrounding the unitranche agreement among lenders. Could you give us a quick…
Leverage for all US corporate issuers is headed to levels where previous default cycles began. Source: The Daily Shot, Bloomberg Finance LP, Datastream, Deutsche Bank
The secondary market continues to come under pressure, with increased differentiation between the so called haves and have-nots. Flow names fell by roughly 100 bps in November and are off another 55 bps so far this month. At a broader market level, multi-quote institutional term loans also fell by around 100 bps in… Subscribe to
Caution Growing Among PE Investors Assessing investor sentiment is always somewhat of a tricky prospect, but one useful heuristic is the extent to which buyers wax optimistic about their most recent deals. In a recent… Subscribe to Read MoreAlready a member? Log in here...
Contact: Daniel Mena daniel.mena@spcapitaliq.com
The commodities rout continued in earnest this week as oil prices hit recent multi year lows, while industrial metal prices also retreated to levels lower than those seen in the depths of the volatility earlier in the year. These developments are not surprisingly translating into further pain for bond investors in resource dependent sectors with both investment…
The average purchase price for large corporate LBO deals is still well below the large-scale deals struck during the buyout boom, but select mega deals are resurfacing. The average purchase price year to date for large corporate LBO deals is around $1.8 billion, slightly behind 2014 levels of $1.9 billion, but far lower… Subscribe to
When we first began distributing middle market loans (in the waning days of the Reagan Administration), the concept was novel. Back then money-center banks underwrote and syndicated mainly large corporate loans to other relationship banks. Smaller deals were mostly self-arranged, club affairs among regional banks and finance companies. Ironically the world of middle market loan…