TheLeadLeft
Debtwire Middle-Market – 6/14/2021
Institutional loan & HY bond default landscape improves dramatically year-over-year Source: Fitch Ratings, Debtwire Par Defaults on institutional loan and high yield bond debt have subsided from elevated levels seen last year during the height of the coronavirus (COVID-19) pandemic, which shuttered many businesses under pressure to service debt agreements. Ending May at just 2.4%,…
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Private Debt Intelligence – 6/14/2021
Mega deals on upward trend in 2021 The number of mega private debt deals (transaction of $1bn+) had been steadily decreasing since the 48 mega deals that were completed in 2017, but H1 2021 has seen an uptick in activity. Last year, the average deal size stood at $85m and 2020 saw 31 deals with…
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Covenant Trends – 6/14/2021
Percentage of Loans with F&C Tranche / Pro Forma EBITDA >0.9x (Past performance is no guarantee of future results.) Contact: Steven Miller
Reorg Credit Intelligence – 6/14/2021
Cash Flow Model: Kloeckner Pentaplast’s High Leverage Under Base Case Mitigated by Sufficient Liquidity Under All Scenarios Kloeckner Pentaplast’s second-quarter results are expected to show significant improvements by management to pass through raw material costs during the German plastics packaging group’s previous two quarters.KP’s €300 million senior unsecured notes due 2026 have rallied on the…
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PDI Picks – 6/14/2021
Debt finds a foothold in the Middle East The region may be at a nascent stage, but private debt firms are seeing signs for optimism. As a relatively new asset class, private debt remains heavily undeveloped outside of North America and Europe. But some are tipping the Middle East and North Africa to be one…
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Loan Stats at a Glance – 6/14/2021
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
Not Your Parents’ Inflation
We caught up with Joseph Lavorgna, Natixis’ chief US economist, who served recently as chief economist of the National Economic Council. “People forget what real inflation is,” he told us. “I was seven years old during the oil embargo in the 1970’s when there were gas lines. Oil prices went from $4/barrel to $40. Imagine […]
