Investors Flock to US Lower-Middle-Market Private Debt A Preqin/NXT Capital survey of 78 institutional investors investing in private debt found that 45% believe that the private debt market is at a peak and that assets are overvalued, leading investors to believe that the coming months will see a correction. In response, investors are looking increasingly…
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Credit Events often make the headlines in the CDS market, for good or ill. But the ISDA Determinations Committee also make other decisions, most often on Succession Events. These are typically straightforward determinations resulting from corporate actions such as mergers and acquisitions. In short, they are part and parcel of a CDS market that in…
Unitranche spreads continue to decline amid intense competiton in the middle market Even though the leveraged loan market has seen some modest investor pushback on pricing and terms due to a voluminous supply market, the middle market remains insulated and heated. Lenders indicate no pushback is evident on smaller deals as the middle market remains…
This week we chat with Thomas A. Stewart, executive director for the National Center for the Middle Market. The Center is the leading source for knowledge, leadership and research on midsized companies, based at the Fisher College of Business at The Ohio State University. Mr. Stewart is an influential thought leader on global management issues…
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Percentage of M&A Deals with Initial Adjusted Leverage of 4x or Lower Contact: Steven Miller smiller@covenantreview
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
There’s nothing that takes the froth off an issuer-friendly market faster than a growing pipeline. Absent some kind of global galactic event like a meteor strike or Iceland winning the World Cup, it’s good old-fashioned supply that impacts demand. In part, it’s a matter of band-width. Loan underwriting, even for liquid, on-the-run, broadly syndicated names,…