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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.

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    Covenantive Easing (Second of a Series)

    Growing competitiveness in the buyout market is resulting in a variety of pressure points being applied by private equity sponsors…

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    Loan Stats at a Glance - 5/27/2019

    Contact: Marina Lukatsky marina.lukatsky@spglobal.com

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    Stat of the Week: Debt to GDP Ratio

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    Select Deals in the Market - 5/20/2019

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    EBITDA Addbacks: Percentage of Loans with Uncapped Synergies & Cost Savings

    Contact: Steven Miller

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    Public versus private

    The private equity industry has matured quite a bit over the years. The most visible marker is the handful of…

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    Private Debt Intelligence - 5/20/2019

    Distressed Debt Funds Stall in 2019 [wpdm_package id=’25406′] Distressed debt has long been a major component of the private debt…

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    North American private credit market: sponsored by private equity

    The fates of the two asset classes are largely intertwined and the deluge of private equity capital bodes well for…

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    What’s the smallest Ebitda you’ve seen for covenant-lite loans?

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    BDC returns superior so far in 2019

    BDC share prices are on a tear in 2019. The Wells Fargo BDC Index has delivered a stunning +18.0% return…

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    Share of cov-lite loans slips in 2019, but remains the market standard

    Source: Debtwire Par, Xtract Research After reaching a high in the 80% area in 2017 and 2018, the covenant-lite share…

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    Covenantive Easing (First of a Series)

    Much attention was paid over the past few weeks to a dramatic series highlighting the struggle between two powerful forces,…

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    Going Direct

    Two-thirds of all middle market LBOs are being financed by direct lenders, from zero in 2013.

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    Loan Stats at a Glance - 5/20/2019

    Contact: Marina Lukatsky marina.lukatsky@spglobal.com

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    Trade discussions between US-China will result in:

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    Why are add-ons getting so much bigger?

    Download PitchBook’s Report here. The median add-on size almost doubled in the span of two years. The $41 million median seen…

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