Chart of the Week: Buyout Binge
Purchase price multiples for all leveraged buyouts have steadily risen since the Great Recession.
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Leveraged Loan Insight & Analysis – 12/9/2019
US secondary loan bids get a boost from improved single-B sentiment Average bids in the US secondary loan market have been on the upswing of late. The LPC 100, Refinitiv LPC’s cohort of the 100 largest and most liquid loans, closed Monday bid at 98.02, its highest level since August 2. The LPC 100 was…
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The Pulse of Private Equity – 12/9/2019
Middle market firms rarely target the public market Download PitchBook’s Report here. Middle market investors aren’t known for prolific take-private activity, but the percentages are surprisingly low. For the past two years, middle-market take-privates have accounted for less than 2% of all middle market activity. 2% is pretty skimpy. Dating back to 2014, MM buyouts have…
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DL Deals: News & Analysis – 12/9/2019
Direct Lending: Add-ons maintain share over buyouts in November Add-on acquisitions continued to drive financings over buyouts in November, accounting for half the tally, compared to 42% for LBOs, according to Direct Lending Deals. Other proceeds, which include growth financing, accounted for 8% of volume, according to DLD. … Subscribe to Read MoreAlready a member? Log in here...
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Covenant Trends – 12/9/2019
Percentage of Loans with Uncapped Synergies & Cost Savings EBITDA Addbacks Contact: Steven Miller
Private Debt Intelligence – 12/9/2019
Europe-Focused Private Debt Fundraising Hits Record High Private debt fundraising has been slowing down globally since 2017 – so far this year the asset class has raised $92.7bn, the lowest fundraising figure seen since 2014. Normally, a big proportion of private debt trends are attributed to the most developed markets of North America and Europe,…
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LevFin Insights: High-Yield Bond Statistics – 12/9/2019
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
PDI Picks – 12/9/2019
LPs expecting lower private debt returns in 2020 The asset class has experienced intense competition over the years, and that might be starting to show up in LPs’ return expectations. Investors broadly expect to enjoy solid private debt returns next year, with 78 percent anticipating returns at or above their benchmarks, according to our annual…
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Debtwire Middle-Market – 12/9/2019
High yield bond issuance climbs sharply in November,up 41% YoY Source: Debtwire Par High yield bond issuance continued its hot streak following a November which saw USD 37bn in volume including over USD 17bn in new money financings, and it was easily the largest amount of deal flow this year. Another USD 4bn of issuance…
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