KBRA Direct Lending Deals
Sponsors demanding larger DDTLs to act quickly in today’s buying bonanza
Sponsors are demanding larger delayed-draw facilities so they can act quickly in today’s buying bonanza. Auctions have gone from a…
Read MoreAt $2.3B, Calypso’s record unitranche demonstrates larger capacity for jumbos
The $2.3 billion unitranche loan supporting Thoma Bravo’s acquisition of Calypso Technology has set a new record for size, but…
Read MoreTwenty is the new 50; Cov-lite invasion continues into direct lending
It’s no exaggeration that covenant-lite is invading direct lending. Market participants across the board say today’s cutoff is $20 million…
Read MoreJanuary volume soars on LBOs; Unitranche to feel broader pricing pressures
Chat I Chart II January’s direct lending tally set a new high, up from the previous record in December. Momentum…
Read MoreVolume surged in December, strong M&A tone carries into first week of 2021
Direct lenders established a new high watermark for volume in December, setting the tone for an aggressive first quarter in…
Read MoreU.S Direct Lending: Purpose November 2020
Direct lending in November for buyouts surged to 47%, leveling the lopsided pull of add-on acquisitions that had dominated the…
Read MoreSun Life’s $338M acquisition of Crescent Capitalunderscores confidence in direct lending
Sun Life Financial’s $338 million acquisition of Los Angeles-based Crescent Capital underscores investor confidence in direct lending, even as the…
Read MoreThird quarter finishes on high note; Lower middle market LBOs rally in Sept
The second quarter’s heavy caution all but disappeared by last month in a swift reversal of deal flow. Uncertainty is…
Read MoreAugust amped up deal flow in lower middle market; Busy season ahead
Lower middle market deal flow amped up in August, with volume exceeding July as lending found its footing amid calmer…
Read MoreNon Accruals rise, not spike; Lower middle market BDCs steady at 7.5%
BDC non-accruals rose to an average of 5.3% at June 30, up from 4.9% at the end of March, based…
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