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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.
Best in Class
During the worst of the credit crisis the lower volatility of middle market loans is evident, compared to bonds or liquid loans.
Average Adjustments for EBITDA Reconciliation, M&A-Driven Loan Deals
Contact: Steven Miller
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,…
Private Debt Intelligence - 12/17/2018
Are We on the Precipice of a Private Debt Crash? [wpdm_package id=’22087′] Private debt funds can act like a bank,…
What do LPs want?
Download PitchBook’s Report here. Do they know you, and how much do you cost? Those are the two most important factors…
Loan Stats at a Glance - 12/17/2018
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Loan bids continue to decline amidst broader market volatility
LPC’s most liquid 100 loans cohort traded down again yesterday to 96.15, its lowest level since March 2016. The volatility…
Today’s deal structuring affects private debt’s future
Cov-lite, cov-wide or cov-regular, credit managers are making the bed they’ll have to lie in. The private debt deal market…
Synergies & Cost Savings EBITDA Addbacks (Capped vs. Uncapped vs. None Allowed)
Contact: Steven Miller
Downside Protection
At the depth of the credit crisis, middle market loan prices proved less volatile than their broadly syndicated counterparts.
Private Debt Intelligence - 12/10/2018
Private Debt Industry in Europe Reaches $200bn in Assets [wpdm_package id=’21942′] Europe has been a key area of interest for…
Why are SBOs more expensive?
Download PitchBook’s Report here. Secondary buyouts have transacted at a premium versus non-SBOs since the financial crisis. That’s somewhat surprising; one…






The Price of Everything (Second of a Series)
Loan prices for the most liquid leveraged names continued to drift lower this week in the wake of continued volatility…