Back in January we featured content from Lincoln International’s Valuations and Opinion team [link]. Topics included Covid’s impact on private credit terms, structures and pricing. Shortly thereafter the team reached out to road test a loan index created from Lincoln’s quarterly valuations of 2,400 private companies. Metrics included total return, price, spread, and yield to…
Returns for middle market loans are less volatile than their BSL counterparts, and higher, on average.
Liberty Power Holdings LLC bankruptcy filing Liberty Power Holdings LLC, a Fort Lauderdale, Fla.-based retail electricity provider servicing 14 states, filed for chapter 11 protection on Tuesday, April 21, in the Bankruptcy Court for the Southern District of Florida as the latest victim of severe wholesale electricity price hikes by the Electric Reliability Council of…
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
Investors put faith in senior debt Fundraising may be a struggle for some, but for those with senior debt strategies the outlook is somewhat brighter. In last week’s edition of PDI Picks, we brought you our global private debt fundraising figures for the first quarter of this year. If you recall, they showed a still…
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
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…
Record levels of dry powder pressure PD returns A rise in inflation and ongoing asset purchases from central banks will make it harder for private debt funds to deploy dry powder in the future, raising the prospects of increased competition and lower returns…. Subscribe to Read MoreAlready a member? Log in here...
Distribution of MFN Sunset Horizons (Past performance is no guarantee of future results.) Contact: Steven Miller
At $2.3B, Calypso’s record unitranche demonstrates larger capacity for jumbos The $2.3 billion unitranche loan supporting Thoma Bravo’s acquisition of Calypso Technology has set a new record for size, but what’s even more notable is that the credit was assembled as new issue, not incrementally, like other recent unitranches that crossed the $2 billion threshold…