Tech firms see the most outstanding leveraged term loans in 2019 YTD Source: Markit, Debtwire Par Outstanding US leveraged term loans have totaled at USD 1.34tn so far in 2019. Of the total outstanding issuance, USD 474bn, or 35%, of term loans come from technology firms, professional and business service providers, and healthcare-related companies…. Subscribe

Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…

Covenant scores on large sponsored deals show relative improvement YTD Source: Xtract Research While loan covenant protections remain extremely weak by historical standards, some comfort for lenders is that they have shown relative improvement so far in 2019…. Subscribe to Read MoreAlready a member? Log in here...

Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…

HY bonds post busiest quarter since 4Q17, loan issuance falls sharply in 1Q19 Source: Debtwire Par High yield bonds posted their busiest quarter since 4Q17, as issuance totaled USD 58.1bn in 1Q19. The bond market bounced back from the volatility seen in the latter part of 2018, posting figures of USD 19.3bn in January, USD…

Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…

Leveraged loan buyers book healthy gains as secondary market shifts higher in 1Q19 Source: Debtwire Par, Markit The latter part of 2018 proved to be an attractive buying opportunity for those willing and able to pick up loan assets in the secondary market. Since then, prices have shifted noticeably higher…. Subscribe to Read MoreAlready a

Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies,… Subscribe to Read

Leverage ticks higher in 1Q19 Source: Debtwire Par Adjusted leverage on new deals has edged higher so far in 1Q19 compared to 4Q18 and 2018 as a whole, averaging 5.1x, aided by a decline in the share of low levered deals and an uptick in the share of deals levered 6x to less than 7x….

Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…