Price points emerge in 10% to 11% range for jumbo direct lending loans Two jumbo direct lending deals surfaced this week— Alnylam Pharmaceuticals and Airbnb —as the first comps to guide new issue underwriting since the Covid-19 pandemic shut credit markets a month ago. Alnylam obtained a $750 million 1L term loan at L+700, while…
This week we wrap up our conversation with Brian Nick, Nuveen’s chief investment strategist: The Lead Left: Brian, how do you compare this cycle with the last one? Brian Nick: The last cycle ended because of an excess of leverage and risk-taking by individual households and within the financial system as a whole. The housing…
Last month’s early price plunge was three times worse than the Great Depression.
Percentage of Loans with F&C Tranche / Pro Forma EBITDA >0.9x Contact: Steven Miller
Private Debt Fundraising Falls in Q1 2020 The past quarter has been a challenging one, with the emergence of the COVID-19 pandemic impacting in all markets across the globe. Fundraising in private debt slumped substantially over the first quarter of 2020…. Subscribe to Read MoreAlready a member? Log in here...
Secondary loan market continues to grind higher Source: Debtwire Par, Markit The secondary loan market continues to grind higher, adding over 2 points in the last week to reach an average bid of 85.26 (as of April 14), and is now up 9 points from its March 23 low. Despite the recent rebound, prices are…
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com