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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.
Not In Concert
Valuations of middle market private credit are less correlated to other public asset classes.
Deals on the agenda as Germany picks up
German-speaking markets are emerging from lockdown with strong appetite for finance. Europe was one of the first parts of the…
Middle Market Deal Terms at a Glance - June 2020
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Loan Stats at a Glance - 6/15/2020
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
Libor floors are back in the institutional market
Investors are demanding Libor floors on institutional term loans as the Libor rate continues to drop. While 3-month Libor has…
How sponsors are handling the crisis
The economic impact of the COVID lockdowns was so swift that many investors “didn’t know what they didn’t know” at…
Relatively Yieldy
Over the past decade the yield on middle market senior secured loans has outpaced that of many other asset classes.
Cost of borrowing rises across the leveraged debt markets in 2Q20
Source: Debtwire Par The cost of borrowing comes at a higher price in 2Q20 as risk is repriced in the…
Private Debt Intelligence - 6/8/2020
First-Time Fundraising Falls in 2020 [wpdm_package id=’35321′] Over the last six years, private debt first-time fundraising has been stable. Around…
Pain across the board
The covid-19 crisis has dished out equal treatment – hitting all types of sectors hard. The subject of the chart…
Bonds vs. Loans - The Takeaway
What’s been described as “massive” new issuance in the high-yield market led to the most deal volume for May ($48…
Average EBITDA Adjustment Cap for Synergies & Cost Savings
Contact: Steven Miller







High Yield Bonds and Private Credit (First of Two Parts)
In our just-completed series on high-yield bonds [link], we conclude that issuer and investor activity has largely been driven by…