Chart of the Week: Uni Cycle
Single-tranche senior debt financing volume and deal size rose sharply last quarter as direct lenders found traction with one-stop solutions.
Single-tranche senior debt financing volume and deal size rose sharply last quarter as direct lenders found traction with one-stop solutions.
With Libor higher than the historic 1% leveraged loan floor, the rationale for that rate subsidy is going away.
June saw the highest number of upward price flexes in the overall leveraged loan market in the past twelve months.
Sponsored loan activity in the middle market is running at a faster pace than last year; on pace for best year since 2007.
M&A loan volume for the current quarter is on par with last quarter’s activity; share of buyouts down from a year ago.
M&A loan volume for the current quarter is on par with last quarter’s activity; share of buyouts down from a year ago.
For the first time since 2008 the universe of leveraged loans has exceeded that of high-yield bonds.
Unlike prior recessions, leading economic indicators signal this cycle will continue a bit longer.
According to a recent WSJ survey of 50 economists, the recovery cycle will likely continue for another two years.
There’s a way to go before rates reach the levels attained just before the credit crisis.