While the year began with the market tilted in favor of institutional investors, there have been some changes. With limited supply of institutional paper, investors are jumping into attractive credits, and issuers have been able to gain the upper hand…. Subscribe to Read MoreAlready a member? Log in here...
As loan spreads have widened over the past year, the incentive for borrowers to seek better terms has diminished sharply. Source: Thomson Reuters LPC
Contact: Cuong Huynh cuong.huynh@spcapitaliq.com
We noted with interest the “Pi Day” celebrations last Saturday. 3/14/15 echoed that mathematical constant (the definition of which escapes us for the moment), spawned dozens of matrimonials, and marked the birth of Albert Einstein. March 14 was also the birthday of Billy Crystal, though we haven’t figured out the π connection there yet. Speaking…
Spreads on middle market loans have risen in concert with those of their broadly syndicated counterparts; now at a 116 bps premium. Source: S&P LCD
It’s that time of the year again when CDS market participants turn their attention to technical, rather than fundamental, factors. The Markit credit indices (iTraxx and CDX) roll every six months, and March 20 will see the first roll this year. This can result in significant dislocations between the… Subscribe to Read MoreAlready a member? Log in
This week we continue our conversation with Chris Flynn and Sam Tillinghast, co-CEOs and co-CIOs of THL Credit. Headquartered in Boston, with investment teams in Chicago, New York, Los Angeles and Houston, THL Credit manages a BDC that invests primarily in middle market mezzanine debt for companies seeking capital for growth and acquisitions. Second of two…
Private equity is buying startups more often Private equity isn’t known as a big buyer of VC-backed startups, but that’s beginning to change. There were 119 buyouts of VC-backed companies in 2014, a substantial increase (35%)… Subscribe to Read MoreAlready a member? Log in here...