Shaken and stirred: inflation, wage hikes and tight wallets are sinking restaurants and bars The consumer services sector has seen a significant uptick in Chapter 11 bankruptcies in recent months, driven largely by filings from restaurants and bar companies. A dozen Chapter 11 cases have been filed in the consumer services sector in 2024 year…

Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 11.2% as of 12 September, versus 11.7% as of 5 August, highest YTD) that tracks the overall performance of publicly traded business development companies…

Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 11.1% as of 29 August, versus 11.7% as of 5 August, highest YTD) that tracks the overall performance of publicly traded business development companies…

Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 11.7% as of 5 August, highest YTD) that tracks the overall performance of publicly traded business development companies (BDCs, are lenders to privately held…

Feeling the pinch: loan margins and OIDs are tightening Despite a slight rebound in June, loan prices – both margins and original issue discounts (OIDs) – have continually tightened this year on the back of a record volume of deals pricing since January thanks to a surfeit of demand from investors…. Subscribe to Read MoreAlready

Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 10.9% as of 19 July, flat YoY and down 80bps from the highest level in last 12 months of 11.7% in October 2023) that…

Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 10.7% as of 8 July, down 100bps from the highest level in last 12 months of 11.7% in October 2023) that tracks the overall…

CLOs fuelling demand for paper, driving repricing deals The driving force behind such an explosion in repricing deals is demand for new paper, which is currently outstripping the offer…. Subscribe to Read MoreAlready a member? Log in here...

Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 10.5% as of 21 June, down from the highest level in last 12 months of 11.7% in October 2023) that tracks the overall performance…

Opportunities abound: loan repricing hits historical high in 2024 Following a muted couple of years for the leveraged loans primary market, deals that include a repricing component or that are solely focused on repricing have dominated activity since the start of the year, reaching historical highs of almost USD 155bn in value in 1Q24…. Subscribe to