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Covenant Trends - 8/12/2024

Average Minimum Day-One Capped Basket Capacity (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com

Leveraged Loan Insight & Analysis - 8/12/2024

Institutional loans calendar slows in August amid traditional summer holidays but ahead of year ago-levels At just under US$31bn, the US institutional loans calendar edged down modestly in early August (from US$34.4bn) as lender and issuer activity slowed ahead of the peak summer holidays…. Subscribe to Read MoreAlready a member? Log in here...

PDI Picks – 8/12/2024

Big and getting bigger: insurance in private credit Insurance companies are some of the biggest allocators to private credit already, but there is still a lot of room for the partnership to grow further. With insurance regulatory regimes varying between countries – and in the US, between states – and insurers having different needs and…

Why So Sensitive?

For some months the performance of public markets, both fixed income and equities, brooked few doubters. As one strategist put it, “Stocks have become a buy high, sell higher asset class.”  All that changed last week. July’s labor report showed the US economy added only 114k jobs, down sharply from June’s level of 179k. Unemployment…

CLO Awakening (Part One of Two)

In a note last week, our content partners at PitchBook LCD highlighted “the high level of CLO paydowns and deal calls, which has pushed more than $50 billion back into investors’ hands — and could add up to $90 billion more.” These paydowns totaled over $52 billion so far this year, more than the combined […]