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Business of Private Credit: Coming Home
Much attention has been paid to the suitability of Matt Damon in the lead role as the wily Odysseus in this summer’s Christopher Nolan blockbuster.
Debtwire Middle-Market – 1/21/2019
Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart…
Leveraged loans rally along with HY bonds and equities
Source: Debtwire Par, Markit, ICE Leveraged loans are off to a good start in 2019, with secondary market prices rallying,…
Debtwire Middle-Market – 1/7/2019
Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart…
Dramatic shift in secondary loan market price distribution
Source: Markit, Debtwire Par The secondary loan market has come under pressure in recent weeks amid increased financial market volatility,…
Large EBITDA addbacks a feature of the leveraged loan market in 2018
Source: Xtract Research The deterioration in loan covenant protections has been well publicized this year, and another area that has…
Oil & gas names drop on lower oil prices, secondary loan market softens
Source: Debtwire Par, Markit Oil and gas loans have moved lower recently in tandem with the sharp decline in oil…
Loan issuance shifts towards the riskier end of market
Source: Debtwire Par The ratings profile of institutional loans has shifted more towards the riskier end of the market this…
Dividend recap activity slows sharply
Source: Debtwire Par Dividend recap activity has slowed sharply this year as loan investors have focused on more attractive M&A…
Share of highly levered deals edge higher in 2018
Source: Debtwire Par Leverage levels on new deals have drifted marginally higher this year, without a dramatic increase in any…
Share of jumbo deals in the institutional loan calendar drops
Source: Debtwire Par The September institutional loan calendar has been marked by several jumbo deals in syndication. Refinitiv and Akzo…
