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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.
Covenant Trends - 9/18/2017
Average Adjustments for EBITDA Reconciliation (M&A-Related Loans) Contact: Steven Miller smiller@covenantreview
Flex Signs
Pricing on almost 100% of US leveraged loans was flexed in favor of the issuer during July and August.
Private Debt Intelligence - 9/18/2017
Investors Satisfied with Private Debt Performance [wpdm_package id=’14244′] Investors’ positive perception of the private debt industry remains strong moving into…
Loan Stats at a Glance - 9/18/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Markit Recap – 9/11/2017
CDS orphaning risk Wind Acquisition Finance and Energias de Portugal (EDP) are two credits that appear to have little in…
Lead Left Interview - Jason Block & Fred Buffone (Part 2)
This week we continue our conversation with Jason Block, partner and chief investment officer and Fred Buffone, principal, of Freedom…
Middle market covenant lite deals exhibit higher leverage than covenanted deals
Private equity shops who are purchasing large middle market credits with EBITDA $40M and above have many choices on how…
Are PE multiples reasonable? Investors think so
View PitchBook’s Global PE Deal Multiples Report Here There’s an old joke in political science circles that applies, in a way,…
Covenant Trends - 9/11/2017
Frequency of Loans with Market Capitalization Carveout Based on RP Capacity Contact: Steven Miller smiller@covenantreview
Spread Slide
Since the correction of August 2015, all-in institutional spreads for single-B loans have contracted 200 bps.
Private Debt Intelligence - 9/11/2017
Private Debt Fund Managers Gauge Investor Appetite [wpdm_package id=’14135′] Preqin’s mid-year survey of private debt fund managers found that the…
Loan Stats at a Glance - 9/11/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Markit Recap – 9/4/2017
Hurricanes impact reinsurers Hurricane Harvey wreaked devastation across central America and the United States (particularly Texas and Louisiana), leaving an…









Flavor of the Month
Turns out there’s nothing plain about vanilla. Back in March a huge storm – cyclone Enawo – struck Madagascar, a…