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Refinitiv LPC’s Quarterly Lender Survey: Are you able to adequately engage with your clients/co-workers? As more people are heading into the office, six percent of large corporate buyside and sellside lenders surveyed by Refinitiv LPC said that the quality of engagement is better now given that they can find ways to meet in person orView Article
Sponsors demanding larger DDTLs to act quickly in today’s buying bonanza Sponsors are demanding larger delayed-draw facilities so they can act quickly in today’s buying bonanza. Auctions have gone from a three-month process to about half that time or shorter in some cases. It’s much easier to hit a DDTL than go back to theView Article
Buyouts prevail in North American consumer discretionary Consumer discretionary has seen the largest number of deals in private debt in North America, with 1,022 deals and aggregate deal value of $103,7bn. The largest number of private debt deals have been part of buyouts, with 314 deals worth $38.2bn since 2016....View Article
Middle market cov-lite volume reaches highest level since 4Q19 Middle market covenant-lite volume was tracked at US$1.71bn in 2Q21, the highest level since 4Q19’s mark of US$1.75bn. Totals represented a 155% increase over the $670m tracked in 1Q21. The jump comes as the middle market lending arena remains ultra-competitive, characterized by lower pricing, higher leverageView Article
High number of PD funds in market due to direct lending Both the number of private debt funds in market and the amount of capital targeted continued to rise through H1 2021. As of July 2021, private debt managers are targeting $295bn across 651 funds. Year-on-year growth has more than doubled 2017’s number of fundsView Article
Economic and Market Overview Broadly Syndicated Market-Observations A View on Private Credit Login to view interactive report and download PDF version. ...
Beginning in January 2021 The Lead Left published a series of articles on the five biggest private capital surprises of 2020. This report consolidates those articles.
Beginning in November 2020 The Lead Left published a series of articles on special purpose acquisition companies (SPACs). This report consolidates those articles.