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PDI Picks – 7/15/2019

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Distressed managers find favour with investors in H1 2019 The biggest challenge for such shops will be where to find chances to deploy capital should no extended period of topsy-turvy markets ensue. Distressed debt fundraising has come back in a big way in the first half of the year, according to Private Debt Investor’s fundraising…

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Debtwire Middle-Market – 7/15/2019

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Share of LBOs levered 7x or more edges higher in 2019 Source: Debtwire Par Lender appetite for LBO loans was strong in 1H19, with leveraged loan issuance backing LBOs amounting to USD 75.7bn. The institutional loan component, the focus of buysiders’ attention, totaled USD 60.8bn. On the other hand, high yield bond volume backing LBOs…

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Private Debt: Search for Transparency (Third of a Series)

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Coney Island was the scene last Thursday of Nathan’s Annual July Fourth hot dog eating contest. For the 12th time in 13 years the men’s champion was Joey “Jaws” Chestnut. He downed 71 franks and buns – not his personal best, but far ahead of the second-place finisher (50). The top woman, Miki Sudo (31),…

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Covenant Trends - 7/8/2019

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Distribution of Synergies & Cost Savings EBITDA Addback Time Horizons (for Actions Resulting in Addbacks) Contact: Steven Miller