As we conclude our European private credit series, let’s review what we’ve learned so far: – Europe suffered a similar Covid slump (and enjoyed a similar rebound) as the US. Yet Europe also retained the country-by-country distinctions they had pre-Covid. The recovery in all capital markets was swift; deal volumes are now at record highs….
Fundraising for European direct lending almost doubled since 2015, hit Covid, but is on the mend.
Buyouts prevail in North American consumer discretionary Consumer discretionary has seen the largest number of deals in private debt in North America, with 1,022 deals and aggregate deal value of $103,7bn. The largest number of private debt deals have been part of buyouts, with 314 deals worth $38.2bn since 2016…. Subscribe to Read MoreAlready a
Hotel, Real Estate Filings Continue to Outpace Historical Averages; July’s Bankruptcies Heavily Concentrated in the $10M – $50M Liability Range Chapter 11s in the $10 million to $50 million range of liabilities, which made up 52% of cases in the first half of the year, account for almost 80%of July’s chapter 11s. This week included…
Initial ECF Sweep Distribution (Past performance is no guarantee of future results.) Contact: Steven Miller
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
We continue our conversation with Lincoln International’s European office. “US and Europe are competing markets,” Xenia Sarri told us. “The US was increasingly aggressive six years ago, but now terms are more favorable in Europe. There are no baskets around restricted payments. No excess cash flow sweeps, no amortization and tighter flex language. Are there […]
Middle market cov-lite volume reaches highest level since 4Q19 Middle market covenant-lite volume was tracked at US$1.71bn in 2Q21, the highest level since 4Q19’s mark of US$1.75bn. Totals represented a 155% increase over the $670m tracked in 1Q21. The jump comes as the middle market lending arena remains ultra-competitive, characterized by lower pricing, higher leverage…