Three Rs — Refis, Repricings, Recaps— drive jumbo volume to record Private jumbo loan volume stands at a record totaling $69.7 billion through Sept. 18, according to news reporting by KBRA Direct Lending Deals (KBRA DLD). The total tops full-year volume of $50.3 billion in 2023, and the previous high of $59.2 billion recorded in 2022….
At US$110bn, 3Q24 M&A loan volume highest quarterly total in 2 years The US broadly syndicated loan market supported over US$110.5bn of acquisition financing in 3Q24, the strongest quarterly results in over two years, pushing 1-3Q24 totals to nearly US$266bn…. Subscribe to Read MoreAlready a member? Log in here...
Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 11% as of 27 September) that tracks the overall performance of publicly traded business development companies (BDCs, are lenders to privately held middle-market businesses…
The LPs leading the charge Download PDI’s Global Investor 75 ranking: here For an asset class that appears to be so popular, investor commitments can seem puzzlingly modest. But our GI 75 ranking reveals there is some strong support out there. Most limited partners consider themselves under-allocated to private debt, according to the results of…
Our fondness for inflection points suggests there are many to consider. First, the economy. Despite many misgivings over the past eight months, US GDP growth has been remarkably solid. Second quarter numbers were revised upward from 2.8% to 3% in large part due to strong consumer spending. The third quarter is still hanging tough with […]
Shaken and stirred: inflation, wage hikes and tight wallets are sinking restaurants and bars The consumer services sector has seen a significant uptick in Chapter 11 bankruptcies in recent months, driven largely by filings from restaurants and bar companies. A dozen Chapter 11 cases have been filed in the consumer services sector in 2024 year…
Direct lending drives private debt growth Read more in Preqin’s Insights+ Report: Future of Alternatives 2029. Fund managers and investors alike have high hopes for private debt, with GPs launching strategies or acquiring specialist managers and LPs overwhelmingly maintaining or increasing allocations to the asset class (99% in our last Investor Survey)…. Subscribe to Read
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
Percentage of New Issue First Lien Loans that Cleared with a J. Crew Trapdoor (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
U.S. MM CLO Spotlight – August 2024 Click here to download report. ‘CCC’ Exposure Slightly Up Exposure to assets with Fitch IDRs or credit opinions of ‘CCC+’ or below, excluding nonrated assets, increased by 20 bps to 18.4%, compared to last month and is up by 3.3% compared to a year ago…. Subscribe to Read