US Leveraged Loan Issuance Tapers Off in November November’s $53.6b of US institutional leveraged loan issuance was down $9.7b, or 15.3%, from the previous month’s $63.3b, marking a decline of 55% from the same month a year ago and the slowest month of issuance since May’s $33b…. Subscribe to Read MoreAlready a member? Log in
KBRA DLD Default Indices(TTM 12/2/25) (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
Source: SPP Capital Partners Contact: Stefan Shaffersshaffer@sppcapital.com
The record setting continues as BDC AUM reaches US$534bn Investors continue to allocate more capital to BDCs and in turn the upward growth trajectory shows no sign of slowing, with BDC assets under management (AUM) climbing to a record US$534bn in 3Q25…. Subscribe to Read MoreAlready a member? Log in here...
Average Free-and-Clear Dollar Cap as a Multiple of Pro Forma Adjusted EBITDA (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 12.3% as of 21 November, close to its five-year peak of 12.8% on 8 April) that tracks the overall performance of publicly traded business development companies (BDCs, are lenders to privately held middle-market businesses that tend to…
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
US Life Insurer Investment Risk Rising from Private Letter Ratings Click here to learn more. Join Fitch for the upcoming Outlook panel: 2026 Leveraged Finance Credit Outlook Webinar The rapid growth of private letter ratings (PLRs) raises risks for U.S. life insurers as it coincides with the industry’s move toward more complex, opaque investments untested…
Private capital dry powder ($B) Download PitchBook’s Report here. Enough capital was raised to more than compensate for the capital calls issued thus far in 2025 to cause dry powder to grow again from the year-end 2024 figure…. Subscribe to Read MoreAlready a member? Log in here...
The rise of secondaries Our Perspectives 2026 survey confirms that secondaries are growing in investor popularity. Secondaries have quickly moved from the periphery of private credit to the mainstream. Our Perspectives 2026 survey reveals the evidence of this sudden change…. Subscribe to Read MoreAlready a member? Log in here...