Chart of the Week – Junior Miss
Issuance of private subordinated debt capital has steadily grown since the credit crisis, though last quarter was off the prior number. Source: Thomson Reuters LPC
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The Pulse of Private Equity – 10/26/2015
Could PE’s role in the M&A boom reverse? Fueled by a variety of factors including the historically unprecedented run of low interest rates, mergers and acquisitions are on pace to hit a record in terms of value this year. Private equity players have not had as big a role in the boom this year as…
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Leveraged Loan Insight & Analysis – 10/26/2015
Mezzanine volume in the middle market only reached about $800 million in 3Q15, over 30% lower than the $1.2 billion tracked in 2Q15. Over the years, mezzanine has been pushed down market and has been more commonly structured on lower middle market issuers with less EBITDA and less leverage…. Subscribe to Read MoreAlready a member?
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Loan Stats at a Glance – 10/26/2015
Contact: Daniel Mena daniel.mena@spcapitaliq.com
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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