TheLeadLeft
Leveraged Loan Insight & Analysis – 1/6/2020
2019 US Syndicated loan volume down 20% compared to 2018 record high At US$2.1trn 2019 U.S. syndicated loan volume was down 20% compared to the record setting US$2.6trn raised the prior year amid a thinner pipeline of deals, higher market valuations and the long – if tangential – shadows cast by geopolitical and economic unease….
Covenant Trends – 1/6/2020
Average EBITDA Adjustment Cap for Synergies & Cost Savings Contact: Steven Miller
The Pulse of Private Equity – 1/6/2020
2020 prediction – a dip in fundraising Download PitchBook’s Report here. 2019 fundraising levels hit record territory in the US, passing $300 billion for the first time. Year-end numbers show a decline in the number of fund closings, though, which fell to 202. Despite the capital haul, that’s the fewest US fund closings since 2012. Taken…
LevFin Insights: High-Yield Bond Statistics – 1/6/2020
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Chart of the Week: Bond Buyers
Last year was a strong one for junk bond funds, as $19 billion entered mutual funds.
Of Bubbles and Gum
Her name was Lola. At least that’s what Danish archeologists are calling the female whose DNA was discovered in birch bark she had chewed 5,700 years ago. The sticky resin was used prehistorically to fix broken tools, for medicinal purposes, and for gum. The discovery was notable because no other remains of this ancient inhabitant…
Debtwire Middle-Market – 1/6/2020
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…