Non-sponsored middle market lending increased to US$102bn but new money collapsed The non-sponsored market continued to tread along in 2018. Issuance was up for the second year in a row to US$102.3bn, but that was still far from 2014’s record and was driven by increased refi activity. Refinancing volume of US$81.3bn, was up 36% from…
Investors want more info on fees LPs said they often have a hard time justifying them within their organisations. More than half of investors in the past 12 months have asked for greater fee transparency and disclosure from their general partners, according to PDI Perspectives 2019, our annual survey of limited partners…. Subscribe to Read
So bemoaned one friend from a broadly syndicated loan desk on Monday. We get it. As we covered in our first column of the year last week, there’s been enough to-ing and fro-ing in liquid markets in the past half-month to already fill your 2019 diary. Such is the nature of today’s market velocity propelled…
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Average Interest Coverage for Loan Deals Contact: Steven Miller
Review of Current Market Conditions/ Analysis of Capital Markets Metrics/ Review of Credit Quality/ Outlook for First Quarter 2019
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
2018 saw another increase in sponsored M&A volume in the middle market; up 12% from 2017.
Leveraged loans rally along with HY bonds and equities Source: Debtwire Par, Markit, ICE Leveraged loans are off to a good start in 2019, with secondary market prices rallying, after taking a hit in the latter part of 2018. Loans have followed the gains in high yield bonds and equities, where risk aversion has eased…