Middle market non-sponsored sydicated loan volume drops dramatically Middle market completed non-sponsored syndicated loan volume of US$7bn so far in 3Q20 is far behind the US$22bn logged in 3Q19 and is down from an already slow 2Q20. As the economy shut down due to the pandemic, activity in the non-sponsored market was very limited in…
While public markets appear to be headed to more choppiness this fall, private markets are just gearing up. We suspect the same worries bedeviling liquid markets are supporting M&A. As a seller, why not cash in your chips today, rather than risk a reduction in your after-tax proceeds tomorrow? Financings are being issued at a […]
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
August amped up deal flow in lower middle market; Busy season ahead Lower middle market deal flow amped up in August, with volume exceeding July as lending found its footing amid calmer secondary prices and outflows. Quarter-to-date volume overtook 2Q weeks ago. Final numbers will be available in our upcoming Quarterly Report…. Subscribe to Read
PE middle market update Download PitchBook’s Report here. PitchBook’s Q2 US PE Middle Market Report releases today – download your copy here – and the headline numbers largely mirror the broader PE market. Deal volume cratered in Q2, as expected, falling from an estimated 789 deals in Q1 to 504 in Q2, a 36% drop. Combined…
A private credit practitioner would have found no better place to spend this week than at the SuperReturn North America Virtual conference. Your correspondent was honored to chair day one, moderate two lender panels and participate in a third. Our role also gave us a front row seat to hear GPs and LPs describe at…
Post-COVID direct lending spreads gapped out relative to middle market bank loans in the second quarter.
Loan issuance down sharply, portfolio managers concerned about future supply Source: Debtwire Par In contrast to the high yield bond market, institutional loan issuance since the start of April is down sharply year-over-year, posting roughly a 50% decline. In turn, issuance has struggled to keep up with demand recently even though demand falls short of…
Percentage of Deals with 75+ bps MFN Contact: Steven Miller