Middle Market Deal Terms at a Glance – September 2021
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
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Supply Chain Blues (First of a Series)
We’ve all been there. You try to re-order your favorite beverage, sneaker, exercise bike, or cleaning product, and it’s out of stock. The dynamics behind these supply chain issues differ depending on the situation. Some manufacturers are still playing catch-up with consumer demand in areas such as home improvement and fitness. Others are challenged by…
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Chart of the Week: Higher, but Longer?
Growth in the US has slowed, while prices are on the upswing…but for how long?
LevFin Insights: High-Yield Bond Statistics – 9/6/2021
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
Debtwire Middle-Market – 9/6/2021
Institutional loan pricing shifts wider in August Source: Debtwire Par To begin the year, a surge of repricing and refinancing activity helped to push loan pricing to historically tight levels – in January, when repricing volume spiked to USD 43.2bn, average margins on institutional first lien loans fell to just 333bps, with yields averaging 3.92%….
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Covenant Trends – 9/6/2021
Average F&C Tranche / Pro Forma EBITDA, Based on Closing PF Leverage (L3M) (Past performance is no guarantee of future results.) Contact: Steven Miller
Reorg Credit Intelligence – 9/6/2021
Payoff of Brinker International’s 2023 Unsecured Notes Will Trigger Springing Liens on Additional Collateral Under New Revolver, Create Additional Secured Debt Capacity Under 2024 Notes In August 2021, Brink International replaced its $1 billion revolver (the “Old Revolver”), which would have matured Dec. 12, 2022, with a new $800 million revolver maturing Aug. 18, 2026…
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Private Debt Intelligence – 9/6/2021
Mega funds dominate private debt fundraising Despite a slight decrease in the number of funds closed, direct lending remains the most popular private debt strategy, with a hefty $14.7bn more capital raised for the strategy in H1 2021 than in the first half last year. Across private debt the average amount invested on a per…
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