Half-Time Report (Second of a Series)
“July 4th is the worst holiday,” one of our friends declared as our families sat watching the jaw-dropping fireworks display last Wednesday evening in Newport, RI. Huh?
“Think about it,” he explained. “Now the summer will zoom by. Kids back in school last week of August. Then Labor Day. A month later, Halloween. Before you know it, bingo – Thanksgiving, Christmas, the whole winter thing.” He sighed. ”See what I mean?”
It did seem like just yesterday we were changing our snow tires. But we aren't ready to throw in the beach towel quite yet. At any rate not with the leveraged loan market demonstrating such uncharacteristically investor-friendly exuberance.
For the first six months of 2018, middle market sponsored loan volume weighed in at more than $40 billion, according to Thomson Reuters LPC. That’s better than 2017’s $37 billion and is on pace to beat last year’s total of $78 billion...
Quote of the Week
“I still think many market participants are turning a blind eye to what is currently going on in Europe.” – Mark Grant, chief global strategist, B. Riley FBR.
June saw the highest number of upward price flexes in the overall leveraged loan market in the past twelve months.
Lead Left Spotlight
Jessica Reiss & Kerry Kantin
Head of Leveraged Loan Research / Managing Director Covering Leveraged Loans
Covenant Review / LevFin Insights
"Portability isn’t common, but we’ve seen an uptick."
Read Interview
Thomas A. Stewart
Executive Director
National Center for the Middle Market
"Middle market companies are critical elements of industry clusters across the country."
Read Interview
Peter Magas
Managing Director
Beecken Petty O'Keefe & Company
"Demographics suggest continued demand for healthcare services and the provider base cannot keep pace."
Read Interview
Mark Habner
Co-Founder & CEO
BeckWay Group
"Individuals within a company truly make the difference in performance and excellence, not the company itself."
Read Interview
Rod Rivera & David Baker
Managing Directors
Capstone Headwaters
"Value-based care is definitely the theme of the day."
Read InterviewSubscribe Now!
Join the leading voice of the middle market. Try us free for 30 days. Click here to view the Newsletter sample.
What is the Lead Left?
- One-stop source for deals and data
- Market trend commentary and analysis
- Exclusive interviews with thought leaders
View Article By
Features
Leveraged Loan Insight & Analysis – 7/16/2018
Middle market non-sponsored issuance jumps on the back of strong refi activity Middle market non-sponsored issuance jumped to US$27.3bn in 2Q18. This was up 29% from 1Q18 and was flat year-over-year. More refinancings drove the increase in loan issuance in this market. At US$21.3bn, non-sponsored middle market refis reached their highest level in three and
View ArticleLeveraged Loan Insight & Analysis – 7/9/2018
Middle market sponsored syndicated volume reached US$20.9B in 2Q18 Middle market sponsored syndicated loan activity was pretty solid in 2Q18 reaching US$20.9bn, similar to 1Q18 issuance of $21.7bn. However, refinancings and repricings drove close to 40% of activity in 1Q18 and 2Q18 which is much higher than the mid 20% area in 2017. Furthermore, compared
View ArticleThe Pulse of Private Equity – 7/9/2018
Heading west: PE sourcing more from the valley than public market Download PitchBook’s 2Q 2018 US PE Breakdown report here. We’ve remarked in the past that PE firms are warming to VC-backed targets. Younger tech companies are increasingly becoming viable buyout targets, or at least intriguing add-on candidates for their platforms. Meanwhile, we’ve also seen
View ArticlePDI Picks – 7/9/2018
Private debt keeps it global Managers with the capability to deploy capital around the globe are rounding up more capital than those focused on a specific geographic area. Private debt has had global ambitions in 2018; multi-regional funds locked down the plurality of capital so far this year, with credit managers raising $30.37 billion for
View ArticlePrivate Debt Intelligence – 7/9/2018
Private Debt: Distressed Debt Dominates Q2 2018 In Q2 2018, 22 private debt funds held a final close, securing a total of $25bn in capital. Although this marks a significant decrease from the 33 private debt vehicles which held a final closure in Q1 2018, Q2 saw an increase of over $5.0bn in capital raised.
View ArticleMiddle Market Deal Terms at a Glance
provided by
Review of Current Market Conditions/ Analysis of Capital Markets Metrics/ Review of Credit Quality/ Outlook for Second Quarter 2018
Beginning in October 2017 The Lead Left published a series of articles on covenant-lite. This report consolidates those articles.
Review of Current Market Conditions/ Analysis of Capital Markets Metrics/ Review of Credit Quality/ Outlook for First Quarter 2018
Our Content Partners
