What are middle market lenders top 3 concerns for the remainder of the year? Middle market lenders were asked in a recent LPC survey what are their top 3 concerns for the remainder of 2024…. Subscribe to Read MoreAlready a member? Log in here...
‘Grace period’ on road to net zero Private debt has new guidelines as it seeks credibility in its response to climate change. The Institutional Investors Group on Climate Change – formed in 2001 as a forum for collaboration between pension funds and asset managers on climate change issues – has published the first net-zero guidelines…
Distressed debt leads Preqin’s performance forecasts Preqin forecasts that returns from private debt will remain steady up to 2028 at 9.8% per annum (a drop of just 0.1% from the 2019-2022 period). Direct lending returns are forecast to drop to 7.3% for 2022-2028, down from 8.6% for 2019-2022, reflecting a focus on more conservative loans…
Boosted by refinancing activity, 1H24 sponsored loan volume at highest level since 2H21 Nearly US$300bn, 1H24 sponsored loan volume to date represents the largest half year total since 2H21 and a 56% increase over the same period last year…. Subscribe to Read MoreAlready a member? Log in here...
Fitch’s Private Middle Market Portfolio, Rating Activity Download FitchRating’s Report here. The default rate in Fitch’s PMR portfolio climbed marginally in 1Q24, reaching 4.1% from 3.7% in the previous quarter, following one additional net default…. Subscribe to Read MoreAlready a member? Log in here...
The syndicated fightback As expected, the BSL market is retaking some of the ground lost to direct lending for larger deals. A recent research note from Alcentra contained some interesting reflections arising from the broadly syndicated loan fightback against direct lending in the larger loan arena…. Subscribe to Read MoreAlready a member? Log in here...
Fitch’s Private Middle Market Portfolio, Rating Activity Download FitchRating’s Report here. Downgrades greatly outweighed upgrades in 1Q24 as high interest rates affected the FCF and financial flexibility of issuers in lower rating categories…. Subscribe to Read MoreAlready a member? Log in here...
Daily Analytic: Services and healthcare sectors see most loans added to non-accrual status in 1Q24 The weighted average non-accrual rate for public and private BDCs combined ticked down to 1.39% in 1Q24 from 1.50% in the prior quarter…. Subscribe to Read MoreAlready a member? Log in here...
Arguments for the middle way A new report examines themes in the mid-market and finds optimism growing as investors seek to diversify. It has undeniably been a challenging few years for small and medium-sized businesses. But are the tides starting to turn? Recent data suggests earnings of mid-market firms are consistent with a consensus that…
Is an IPO revival in the pipeline? The IPO market ran cold in 2023 as high global interest rates, continued volatility, and poor after-market performance led companies to hold off, and wait for a more stable macroeconomic climate…. Subscribe to Read MoreAlready a member? Log in here...