Covenant Trends – 11/1/2021
Average Total Deleveraging Required To Meet RP Ratio Test (Past performance is no guarantee of future results.) Contact: Steven Miller
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PDI Picks – 11/1/2021
Five observations from the Global Investor 30 There are no signs yet of the pandemic having had any negative effect on investor enthusiasm for private debt. We look at five takeaways from our latest ranking of private debt’s top LPs. 1. Appetite through the roof Our latest ranking of private debt’s 30 largest investors shows…
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Loan Stats at a Glance – 11/1/2021
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
Private Credit in Full
News reached us recently of a young walrus that had wandered south from his Arctic range in search of ice floes. Landing in Ireland, Wally began boarding luxury yachts. The property damage turned the whiskered wayfarer from “visiting celebrity to public enemy number one.” It all worked out, though, when a marine biologist enticed the […]
Debtwire Middle-Market – 10/25/2021
Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…
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Leveraged Loan Insight & Analysis – 10/25/2021
Middle market LBO direct lending surges to new heights It was a record setting quarter for middle market LBO direct lending in 3Q21, with volume surging to US$16.3bn, nearly double the 2Q21 level and 50% above the prior record set in 4Q20. On a year-to-date basis, the US$33.9bn of middle market direct lending LBO volume…
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LevFin Insights: High-Yield Bond Statistics – 10/25/2021
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
The Pulse of Private Equity – 10/25/2021
Growth deals in vogue Download PitchBook’s Report here. One sea change in the post-COVID PE market is the surge in growth deals. According to PitchBook’s latest US Breakdown Report, both 2020 and YTD 2021 have exceeded the $75 billion line, and 2021 is the first year we’ve gone past $80 billion. We’re on pace to see…
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A Market in Full (Third of a Series)
We report (in person!) this week from the SuperReturn Private Credit conference in Chicago, where we chaired day one, moderated an LP panel, and interviewed the keynote speaker. The event always attracts top-shelf credit investors and managers, and 2021 is no exception. Sifting through sentiments on the economy and markets from various panels, we discovered…
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