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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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August 12, 2026 
Middle market fundraising firing on all cylinders in 2017
Money continues to pour into the middle market in a myriad of ways. For starters, 2017 is going to be…
Covenant Trends - Average EBITDA Adjustment Horizon (Months) for Synergies / Cost Savings
Contact: Steven Miller smiller@covenantreview
Lead Left Interview - Tess Virmani
This week we chat with Tess Virmani, SVP and Associate General Counsel of the Loan Syndications and Trading Association (LSTA).…
Is this the new normal for buyout firms?
View PitchBook’s 2017 Global PE Deal Multiples Report: Part II Here Multiple datasets can help convey certain aspects of why the…
Private Debt Intelligence - 6/12/2017
Private Debt Fundraising Pool Widens [wpdm_package id=’12906′] The closed-end private debt fundraising market is broadening, as more fund managers continue…
Spreading the Lite
Almost three of every four institutional leveraged loans lack a maintenance financial test.
Loan Stats at a Glance - 6/12/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Private Debt Intelligence - 6/5/2017
Sovereign Wealth Funds Look to Private Debt [wpdm_package id=’12863′] Sovereign wealth fund investors are increasingly looking to make private debt…
Markit Recap – 6/5/2017
Banco Popular Senior and Sub move in opposite directions The CoCo market received all the plaudits following Banco Popular’s enforced…
U.S. new issue CLO volume outpaces refinancings for first time in 2017
May marked the first month this year where U.S. new issue CLO volume outpaced refinancing volume. CLO new issue amounted…
Covenant Trends - Average Free-and-Clear as a Multiple of Pro Forma Adjusted EBITDA
Contact: Steven Miller smiller@covenantreview
The Case for Covenants (Part Three)
At a recent debt conference we did what most of our direct lending colleagues are doing these days: complain. Speaking with…
Pro Forma This
The difference between reported and adjusted ebitda for all M&A related loans has expanded to over 30%.
The Case for Covenants (Part Four)
It’s not surprising so much fuss has been made about the proliferation of cov-lite structures in the leveraged loan market.…