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
KBRA DLD Default Indices(TTM 12/14/25) (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
North American Leveraged Finance Outlook 2026 Click here to download report. Fitch Ratings’ 2026 sector outlook for North American Leveraged Finance is neutral, reflecting broadly steady credit conditions across liquid markets and private debt. Most sectors carry neutral outlooks. Aerospace & Defense is the sole corporate sector with an improving outlook, while a handful are…
Sponsors Tap Leveraged Loan Market for Dividend Payouts at Record Pace With just two weeks before the start of the new year, dividend issuance has reached an all-time high in the US leveraged loan market. At $32.9b year-to-date, new money issuance supporting dividends surpassed 2021’s $28.9b figure for the most on record since Bloomberg began…
Primary market cools down, dividend recaps on the rise – DebtDynamics NorthAm Institutional leveraged loan issuance dropped to USD 55bn in October, down 42% from USD 96bn in September. This decline followed a period of strong activity in the third quarter that marked a rebound from a subdued 2Q25 caused by US tariff announcements in April….
Percentage of Loans with MFN Carveouts (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
PE take-private deal activity Download PitchBook’s Report here. Middle-market take-private activity dwindled in Q3, with PE buyers underwriting just four announced or completed deals under $1 billion across North America and Europe…. Subscribe to Read MoreAlready a member? Log in here...
US primary market loan yields tighten in December The average primary market yield, assuming a 3-year term to repayment on first-lien institutional term loan Bs, decreased 26bp to 6.73% so far in December, down from 6.99% in November…. Subscribe to Read MoreAlready a member? Log in here...
The pros and cons of evergreen funds Liquidity has become highly prized in private markets, but a traditionally illiquid asset class such as private credit cannot easily adapt to the demand. One of the clear trends of 2025 has been an increasing demand for liquidity, even within private markets where the illiquidity premium has long…
The private credit yield advantage over BSL widens as single-B spreads shrink. Source: KBRA DLD Research, PitchBook LCD