Slump to Start

Private equity deal closings are at their lowest level in almost four years, as buyers turn cautious on purchase price…

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Off The Shelf

The universe of private equity backed companies in the US has leveled off, but still represents significant opportunities for future…

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The Bigger They Are

As banks retreat under regulatory pressures, non-banks are bulking up in their capacity to do larger middle market deals Average…

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The Thrill is Gone

As loan spreads have widened over the past year, the incentive for borrowers to seek better terms has diminished sharply.…

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Ahead of the Curve

Spreads on middle market loans have risen in concert with those of their broadly syndicated counterparts; now at a 116…

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Flex Drive

Market volatility from last year’s oil price shock dramatically cut both issuer and investor-friendly flex activity. Source: Thomson Reuters LPC

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All Relative

Both loan and high-yield bond yields peaked in mid-December, easing since. Relative spread favors junk by 200 bps. Gap between…

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Refi Chill

Loan repayments have declined since July 2013, as widening spreads foil issuers looking to cheapen borrowing costs. Source: SEC filings,…

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