Many of us who lived through the financial crisis of 2008-2009 had flashbacks to that era. The collapse of Silicon Valley Bank and Signature Bank also raised concerns about the underlying health of bank balance sheets, particularly for the smaller firms. We were reminded of how customer confidence is everything for depository institutions. Banks exist…
Last week’s bank failures steepened the Treasury curve to levels not seen since 9/11.
Jumbo outstandings climb to $118B with Cotiviti’s new record deal Cotiviti’s $5.5 billion credit raises outstanding jumbo loan volume to $118 billion, as tracked by KBRA DLD. That figure includes incremental debt for existing jumbo issuers, defined as those with private loans of $1 billion or greater. The number of known companies with outstanding jumbo…
This past week we visited our clients and friends in Tokyo. The last time we did, three months before Covid, Japan’s GDP had ended modestly down 0.2%. During 2020 it plunged 4.3%; about twice as sluggish as the US… ▶︎ Read Feb 27 2023 newsletter: here ▶︎ Chart of the Week: here (by The Daily […]
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
Distribution of MFN Maturity Carveout Horizons (Past performance is no guarantee of future results.) Contact: Steven Miller
US primary institutional yields are averaging 9.57% in 1Q23 Average primary institutional yields have flattened in the last two quarters after soaring in 3Q22. At 9.57% so far in 1Q23, the average first-lien institutional yield, assuming a three-year term to repayment, is slightly below 4Q22’s 9.62%. While SOFR rates continue to rise, tighter discounts and spreads…
Q4 recovery in private debt fundraising Download PitchBook’s Report here. A quarter ago, private debt fundraising numbers were “poised for a down year,” according to the guy typing this sentence. At the time, about $130 billion had closed in new private debt funds, compared to $228 billion in the 2021 vintage. The other decline, which remains…
