The BDC industry has shown explosive growth over the last ten years and it has resulted in business development companies becoming a large force in middle market lending. BDCs’… Subscribe to Read MoreAlready a member? Log in here...
Roughly one third of banks and non-banks polled at TRLPC’s 3rd Annual Middle Market Loan Conference last week reported that sponsored M&A deal flow will most likely not materialize over the next two months. The percentage grew to 36 percent of respondents expecting that deal… Subscribe to Read MoreAlready a member? Log in here...
The average yield on first-lien institutional loans is in the 5.18 percent context so far in 2Q15, down from 5.78 percent in 1Q15. After widening above the 6 percent threshold in 4Q14, yields have declined this quarter as demand continues to outstrip supply in the leveraged loan market…. Subscribe to Read MoreAlready a member? Log in
In 1Q15, higher yields in the leveraged loan market were apparent in both the large corporate and institutional middle market. However, data submitted to LPC from middle market lenders for smaller club sponsored deals indicated that pricing continued to… Subscribe to Read MoreAlready a member? Log in here...
Yields on institutional term loans have inched higher so far in April, after dropping in March. The average yield, assuming a three-year term to repayment is 5.66 percent in April, up from 5.28 percent in March. Still April levels are below the 6 percent threshold,… Subscribe to Read MoreAlready a member? Log in here...
It was not an auspicious start to the year for ABL lenders. At under$20 billion 1Q15 asset based loan volume was down 13 percent year over year. On a deal count basis, the news was oddly mixed – with 51 credits… Subscribe to Read MoreAlready a member? Log in here...
CLO issuance hit a monthly record of $14.7 billion in March as managers overcame uncertainty around the onset of risk retention to finish the quarter in strong fashion. Issuance increased in each month of the… Subscribe to Read MoreAlready a member? Log in here...
US syndicated loan volume took a tumble in 1Q15 to log just over $350 billion, down 27% compared to year ago levels and a more substantive 40% drop over 4Q14 totals. The decline was most notable among leveraged issuers who pushed almost… Subscribe to Read MoreAlready a member? Log in here...
While the year began with the market tilted in favor of institutional investors, there have been some changes. With limited supply of institutional paper, investors are jumping into attractive credits, and issuers have been able to gain the upper hand…. Subscribe to Read MoreAlready a member? Log in here...
According to Thomson Reuters LPC’s latest survey of buyside and sellside institutions active in the middle market, the impact from Leveraged Lending Guidance on banks’ ability to invest in deals is becoming significant. Less than 10 percent of non-banks and one fifth of banks surveyed in… Subscribe to Read MoreAlready a member? Log in here...