Libor floors remain in institutional market, but are lower in 4Q20 As the Libor rate remains at low levels, investors continue to demand Libor floors in the institutional market. The average 3-month Libor rate is at an average of 0.22% so far in 4Q20, this is down from 0.25% in 3Q20 and is roughly 130bp…
As we wrap up our special series on SPACs, let’s take a look at the performance of these vehicles over time. Early last year, as SPACs began their rise in popularity, the WSJ reported of those that IPO’ed in 2015 and 2016, over 50% “were trading below their IPO price.” Performance of SPACs in the…
The value of initial business combinations (IBCs) produced by SPAC IPOs has reached unprecedented levels in 2020.
LBO deal flow drops sharply in 2020; fewer large transactions hits new money loan supply Source: Debtwire Par As we approach the end of 2020, LBO financings have helped boost loan supply this quarter, with syndicated institutional loans backing buyouts climbing to USD 28.7bn, a sharp jump from the USD 8.9bn recorded in 3Q20. Despite…
Average Unadjusted Leverage for M&A-Driven Loan Deals Contact: Steven Miller
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Will Venture Debt go up in 2021? Venture debt is a type of debt financing provided to venture capital-backed companies by a specialized financier to fund working capital or capital expenses. Fundraising of this strategy has had a pattern of highs and lows in capital raised over the last 10 years…. Subscribe to Read MoreAlready
A New Year’s wish: More of the same After a tumultuous year, private debt managers are hoping the strategies that have served them well so far will retain LP support. “Sticking to the knitting” is a phrase beloved of private markets fund managers. What it’s meant to convey is that, when chaos is all around…