Historical Data – US: ABL Volume & Deal Count Almost US$24bn in asset based loan volume was completed via retail syndication in the US in 1Q19, a 29% increase over the year ago period, but down nearly 26% from the record quarterly high garnered in 4Q18…. Subscribe to Read MoreAlready a member? Log in here...
Market Survey: slowing pace of demand expected well into 2Q More than half of buyside and sellside players surveyed by LPC at quarter-end said that the pace of new CLO issuance will not pick up while one quarter said it could slow down moderately…. Subscribe to Read MoreAlready a member? Log in here...
1Q19 Syndicated loan volume down 36% y-o-y; Weakest results in 3 years 1Q19 marked an uneven start to the US loan market calendar with less than US$400bn of volume working its way through the retail market. An additional US$61.3bn was completed via clubbed participation…. Subscribe to Read MoreAlready a member? Log in here...
Primary yields widen to highest levels since 4Q11 1Q19 yields on first-lien institutional term loans are at their highest level in over eight years. At 7.66%, the average yield assuming a three-year term to repayment on first-lien institutional term loans is 94bp above 4Q18’s already high level…. Subscribe to Read MoreAlready a member? Log in
Global green loan volume tops US$10bn ytd, shadowing record 2018 pace At a pace reminiscent of the record setting US$59.5bn total set in 2018, 2019 green loan issuance topped US$10.0bn so far in 1Q19. This is modestly off from results at the same time last year which stood at nearly US$11.8bn…. Subscribe to Read MoreAlready
US investors displayed more caution on riskier loans in February Overall, flex activity in the US institutional loan market favored issuers in February with LPC’s Flex Factor tracking 15 deals that favored borrowers against 10 that went in investors’ favor…. Subscribe to Read MoreAlready a member? Log in here...
Privately placed second-lien issuance picks up this quarter So far this quarter there is US5.2bn in completed and pipeline second-lien issuance, well below the US$8bn level it has reached the previous nine quarters. In addition, a greater share of second-lien issuance is getting privately placed…. Subscribe to Read MoreAlready a member? Log in here...
BDC returns superior so far in 2019 If you were not buying BDC stocks in the dip in December, you are probably feeling remorse because BDC returns are quite stunning so far in 2019. After posting a dismal -6.6% return in 2018 and 0.1% in 2017, returns have gone sky high so far in 2019…
Global green loan volume nearly US$6bn one month into 2019 Barely five weeks into the new year, nearly US$6bn in green and ESG loan financings have worked their way through the global market. At first glance it may not seem impressive given the nearly US$9.5bn that was raised the same time last year, but green…
Flex activity in the US institutional loan market snaps back to favoring issuers again Flex activity in the US institutional loan market snapped back to being issuer friendly in January, after December heavily leaned towards investors. This allowed LPC’s Flex Factor’s median flex score to drop to a very issuer friendly score of -1.0 last…