DL Deals: News & Analysis – 11/27/2023
Year-to-Date Default Volume, Count Contact: Eric Rosenthaleric.rosenthal@kbra.com
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Leveraged Loan Insight & Analysis – 11/27/2023
BDC credit quality continues to hold up BDC credit quality held up well across different metrics in the most recent quarter. The weighted average non-accrual rate for public and private BDCs combined slipped to… Login to Read More...
Debtwire Middle-Market – 11/27/2023
Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 10.7%, decline from the highest YTD level of 12.1% in May)… Login to Read More...
Loan Stats at a Glance – 11/27/2023
Source: PitchBook LCDContact: Marina Lukatskymarina.lukatsky@pitchbook.com
Chart of the Week: 60/40 Hindsight
The traditional equities and fixed-income model is under-performing the historic average. Source: WSJ, Leuthold Group(Past performance is no guarantee of future results.)
The New Paradigm (Third of a Series)
The confusion around differences between public and private credit dynamics has been compounded by the rapid growth of the illiquid asset class. The middle market was infrequently on investors’ radars until it began to rival broadly syndicated loans and high-yield bonds in size. At $1.5 trillion, private credit has caught up with both, and by…
The New Paradigm (First of a Series)
This week we chaired Day One of SuperReturn’s Private Credit US conference in New York. It’s a measure of the popularity of the asset class (and the outstanding agenda) that the auditorium was standing room only. Not including other SuperReturn strategy sessions on another floor. In preparing for the opening keynote, we gave thought to […]
Debtwire Middle-Market – 11/13/2023
Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 10.9%) that tracks the overall performance of publicly… Login to Read More...
Middle Market & Private Credit – 11/13/2023
Fitch’s Privately Monitored Middle Market Portfolio Overview, 3Q23 Fitch expects revenue growth to moderate to the mid-single digits in 2023 after two strong years of double-digit growth following normalization after the pandemic, given a slowing economy and limited M&A…. Login to Read More...
Leveraged Loan Insight & Analysis – 11/13/2023
BDC debt valuations increase in 3Q23 BDC debt valuations climbed across the board in 3Q23, with riskier debt outperforming as hopes of an economic soft landing increased…. Login to Read More...