Covenant Trends – 10/18/2021
Percentage of Loans that Cleared with the Least Protective Documentation Scores (5/5+/4-) (Past performance is no guarantee of future results.) Contact: Steven Miller
TheLeadLeft
Loan Stats at a Glance – 10/18/2021
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
Supply Chain Lessons Learned
Last fall, the Harvard Business Review examined Covid’s impact on supply chains. The pandemic, they wrote, “exposed vulnerabilities in the production strategies and supply chains of firms just about everywhere,” The study also presciently identified “the growing electronics content in modern vehicles” as a potential bottleneck. Today we are witnessing how the shortage of semiconductor […]
Middle Market Deal Terms at a Glance – October 2021
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Reorg Credit Intelligence – 10/11/2021
CalPlant Bankruptcy Supported by 62% of Senior Bondholders; Toggle Plan Envisions Sale or Restructuring CalPlant I LLC and parent company CalPlant Holdco, manufacturers of rice straw-based medium-density fiberboard, or MDF, in Willows, Calif., filed for chapter 11 protection yesterday, Tuesday, Oct. 5, in the Bankruptcy Court for the District of Delaware. The debtors enter chapter…
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Leveraged Loan Insight & Analysis – 10/11/2021
Middle market non-sponsored syndicated M&A jumped to US$4.4bn in 3Q21 The non-sponsored middle market added another strong quarter to the books. While issuance was slightly down from 2Q21, it was a very busy summer with total volume of US$30.3bn in 3Q21. This was the highest level for a third quarter since 2014. Moreover, new money…
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A Market in Full (First of a Series)
Of the many unanticipated consequences of Covid, one that caught our eye was the recent NYT headline: “Birds Thrived During Lockdowns.” Seems that while we were stuck at home last spring, our feathered friends were out partying. Urban areas, otherwise crowding out some species, saw hummingbirds and bald eagles return at 14 times pre-pandemic levels….
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Chart of the Week: Sliding Scale
Has the decades-old secular decline of long-term interest rate yields come to an end?
The Pulse of Private Equity – 10/11/2021
Q3 was another blockbuster Download PitchBook’s Report here. No rest for the weary: PitchBook’s latest US PE Breakdown is out, and the third quarter set another new record. An estimated $297 billion was invested in Q3 across an estimated 2,227 deals. Both would be new records, as data continues to be tabulated. The value mark, $297…
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