The rise of the periphery Specialty finance is grabbing the limelight by offering strong returns, downside protection and diversification. With many investors having reached a level of exposure to direct lending that they are comfortable with, it’s natural that they should then begin casting around for more esoteric opportunities. One area claiming attention is specialty…
Leveraged loan and HY bond volume surge in 2Q24 amid refinancing activity Leveraged issuers raised over US$484bn via the loan and high yield bond markets in 2Q24, the strongest quarterly results since 1Q21…. Subscribe to Read MoreAlready a member? Log in here...
Source: PitchBook LCDContact: Ryan Brownryan.brown@pitchbook.com
Among a basket of traded credit strategies, leveraged loans are showing well. Source: The Daily Shot(Past performance is no guarantee of future results.)
The 60/40 allocation model for investing has taken some hits since the Fed began raising rates over two years ago. 2022 saw a sea of red ink for liquid strategies – both the “60” and the “40” – with improved returns last year and so far in 2024. Sophisticated institutional investors long ago adopted the…
The media seems to characterize amendments and extensions as financing gimmicks, but they are well-worn features of the leverage finance playbook. As interest coverage cushions are squeezed, giving borrowers room to maneuver enhances their flexibility and resilience. The same theoretically could be said about cov-lite and PIK-toggle features. Sahar panelists spoke at length about how […]
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
Average New-Issue Clearing Spreads (Single B) and Covenant Terms for All First-Lien Institutional Loans (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Fitch U.S. MM CLO Spotlight – May 2024 Click here to learn more. Defaults and Deferring Exposure Flat Twenty-five CLOs had exposure to at least one defaulted or deferring issuer at the end of May 2024. Average defaulted and deferring exposure across middle market (MM) CLOs remained at 0.7%…. Subscribe to Read MoreAlready a member?
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com