CLOs ramp to new heights in ’24, new issuance tops US$186bn thanks to bustling November US CLO new issuance totaled US$25.2bn across 54 vehicles in November, marking the busiest month of the year and the second highest monthly tally on record for the asset class…. Subscribe to Read MoreAlready a member? Log in here...
US leveraged loan issuance tops US$172bn in November, pushing ’24 issuance to record heights US leveraged loan issuance exceeded US$172bn in November, notching an 18% gain over October’s US$146bn pipeline and more than tripling last November’s deal flow of nearly US$50bn…. Subscribe to Read MoreAlready a member? Log in here...
Healthcare, general manufacturing and services sectors see most loans added to non-accrual status in 3Q24 A total of US$980m of BDC loans were added to non-accrual status in 3Q24, down from US$2.1bn in the prior quarter…. Subscribe to Read MoreAlready a member? Log in here...
A flurry of new leveraged loans hit the market post elections and in run up to year end After a brief pullback in the institutional calendar in the week leading up to the US election, lenders have tapped the market with a flurry of deals…. Subscribe to Read MoreAlready a member? Log in here...
Resilient secondary loans, light primary calendar carry repricing trade through October The share of institutional term loans trading above par averaged 33% in October, advancing atop 31% in August and 32% in September. And secondary loans have traded nowhere but up through the first two weeks of November, with par-plus loans now accounting for 43%…
October LBO financing conditions show strength, despite mixed pricing outcomes in bifurcated market With more than US$32bn of LBO term loan B issuance successfully placed in 3Q24, LBO financing activity has emerged similarly strong in 4Q24…. Subscribe to Read MoreAlready a member? Log in here...
Total leverage on US LBO deals exhibited hints of bifurcation across EBITDA ranges In 3Q24, total leverage on US LBO deals exhibited hints of bifurcation across different EBITDA ranges…. Subscribe to Read MoreAlready a member? Log in here...
Leverage on middle market sponsored deals increased to 4.76x on average in 3Q24 Total leverage on sponsored middle market deals climbed to 4.76x on average in 3Q24 from 4.61x in 2Q24 and was the highest quarterly level recorded since 1Q22…. Subscribe to Read MoreAlready a member? Log in here...
US LBO Capital Structures: In world of high valuations, increased senior leverage and equity prevail in 3Q24 While pro forma leverage and equity contributions for US large cap LBO transactions have remained elevated, and continue to move higher and parallel with valuations despite higher rates, capital structures have evolved accordingly…. Subscribe to Read MoreAlready a
Record setting 1-3Q24 US sponsored loan volume tells mixed story US sponsor tapped lenders for nearly US$186bn in loan financing in 3Q24, pushing 1-3Q24 issuance levels to a record setting high of US$668bn. There were caveats to the strong results however…. Subscribe to Read MoreAlready a member? Log in here...