Loan Stats at a Glance – 10/26/2015
Contact: Daniel Mena daniel.mena@spcapitaliq.com
TheLeadLeft
Markit Recap – 10/19/2015
The last few months have proven to be a volatile time for the HY market, highlighting the risks involved in the asset class. But with significant yields on offer and different markets to explore, HY bonds remain a quandary for investors. The recent volatility can be illustrated by looking at recent returns. September saw US…
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Leveraged Loan Insight & Analysis – 10/19/2015
In sync with the broader leveraged cash flow market, asset-based lenders struggled to source new dealflow in 3Q15. At just over US$19bn, 3Q15 ABL volume was modestly higher from 2Q15 totals to bring year to date volume to US$58.5bn, down nearly 13% compared to the year ago period. More noteworthy,… Subscribe to Read MoreAlready a
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The Unitranche – What it is, and Why it Matters (Third of a Series)
So far in our unitranche series we’ve examined the structural variations of this increasingly popular financing tool for leveraged lenders and sponsors. This week we look behind the curtain at the dynamics between lenders in the unitranche itself. For some unitranche options, one debt provider alone mimics the leverage that would be offered by both…
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Lead Left Interview – Robert A. Hamwee
This week we chat with Robert A. Hamwee, president and chief executive officer of New Mountain Finance Corp. (NMFC). NMFC is a public BDC investing in debt securities in all levels of the capital structure, primarily focusing on middle market companies with Ebitda between $20-200 million. The Lead Left: Rob, how do you explain the…
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Chart of the Week – On Watch
The number of risk rating downgrades in the corporate sector has hit a five year high – worst since the credit crisis. Source: The Daily Shot, @WSJ Markets
The Pulse of Private Equity – 10/19/2015
After a slow third quarter, 2015 has only seen 32 private equity-sponsored initial public offerings (IPO), raising a combined $7 billion. The IPO window for PE sponsors in the fourth quarter of 2015 may be narrowing, although it’s unclear how much concern that should really cause for now. After all, even though an initially disappointing…
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Loan Stats at a Glance – 10/19/2015
Contact: Daniel Mena daniel.mena@spcapitaliq.com