Chart of the Week: One-Stop Shopping
3Q 2016 was the most active quarter in the past several years for unitranche financings, as middle market sponsors increasingly access the non-bank market.
Chart of the Week
Chart of the Week: Industrial Strength
Five sectors comprise 60% of all middle market institutional loans.
Chart of the Week: Purpose Driven
Middle market borrowers look to banks for refinancings; for buyouts and add-ons, almost twice as many seek institutional lenders.
Chart of the Week: Breaking Away
Middle market LBO volume was up 43% for the third quarter, far outpacing the number of add-ons, dividend recaps, and refinancings.
Chart of the Week: Piling On
Add-on volume for the overall market rebounded sharply during 2Q 2016 from the first quarter, though slowed last quarter.
Chart of the Week: Adding Up
Sponsored acquisition volume for platform companies has averaged less than $2 billion for past five quarters
Chart of the Week: Fall Rising
So far in October, middle market loan activity is tracking for its fourth consecutive month-over-month improvement.
Chart of the Week: Flipped Flows
Driven by a benign credit environment and favorable relative value dynamics, $2.5 billion has flowed into retail loan funds.
Chart of the Week: Home in the Range
Spreads for middle market sponsored loans have generally remained range-bound around L+500 for the past four years.
Chart of the Week: Off Season
Second quarter non-sponsored loan volume was down 5% from the first quarter but off sharply from the second quarter last year. Source: Thomson Reuters LPC