LevFin Insights: High-Yield Bond Statistics – 7/5/2021
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
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Reorg Credit Intelligence – 7/5/2021
Fiesta Restaurant Group Agrees to Sell Taco Cabana Business to Yadav Enterprises Affiliate for $85M Fiesta Restaurant Group announced that it had agreed to sell all of the outstanding equity of Taco Cabana Inc. to an affiliate of Yadav Enterprises – a restaurant franchisee company that operates more than 300 locations throughout the United States…
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PDI Picks – 7/5/2021
Driving forward on ESG, but acceleration needed Private debt managers have made considerable progress but, particularly in North America, there is more to be done. Today any private debt manager underplaying the importance of environmental, social and governance issues might expect short shrift from any investor they approached for capital. However, it wasn’t always that…
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Private Debt Intelligence – 7/5/2021
Consumer discretionary tops PD deal activity in North America As an industry, consumer discretionary has seen the largest number of private debt deals in North America since 2016, at 1,007 deals with an aggregate deal value of $99.5bn. This includes a recent deal from Blackstone Group to buy Certified Collectibles Group… Subscribe to Read MoreAlready
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Loan Stats at a Glance – 7/5/2021
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
Covenant Trends – 7/5/2021
Percentage of All Loans that Cleared with the Least Protective Documentation Scores (5/5+/4-) (Past performance is no guarantee of future results.) Contact: Steven Miller
The State of Private Credit in Europe (Fourth of a Series)
Calculating private credit volume in Europe is a bit dodgy. Even in the US, good numbers have only been available in the last couple years. We can however triangulate from other known metrics. The par amount of all leveraged loans was €15 billion in 1998, per S&P/LCD. It grew to €20 billion in 2003, €140…
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Chart of the Week: It Takes 𝘜𝘯 𝘝𝘪𝘭𝘭𝘢𝘨𝘦
Non-bank European lending AUM is almost $160 billion, including about $50 billion of dry powder.
Europe/US: Direct Lending Compared
Our fondness for colorful metaphors led us, in our 2016 series, to compare European direct lending to Burger King’s new hot dog venture. The burger giant’s thesis was to apply “sixty years of flaming-grilling expertise,“ but also recognized they’d have to “chop the onions a little differently.” Apparently, hamburger prowess didn’t translate to frankfurters. They […]
Leveraged Loan Insight & Analysis – 6/28/2021
1H21 U.S. loan volume up 58% y-o-y; Second highest total on record U.S. arrangers pushed almost US$1.466trn through the retail syndication in 1H21, a 58% increase over the same period last year and the strongest half year totals since 1H18 (US$1.492trn). At US$764.10bn, 2Q21 syndicated loan volume marked a two fold jump over year ago…
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