Loan Stats at a Glance – 7/18/2016
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
TheLeadLeft
Markit Recap – 7/11/2016
In the heady days of 2004-2007, before the Great Moderation came to a shuddering halt, it seemed set in stone that European investment grade CDS traded tighter than their North American counterparts. In May 2007, the Markit iTraxx Europe was trading at 20bps and the Markit CDX.NA.IG was quoted 15bps wider at 35bps. This 15bps…
Leveraged Loan Insight & Analysis – 7/11/2016
U.S. CLO assets under management (AUM) climbed to $434 billion in June on the back of further new deal flow. Issuance increased to $6.6 billion (15 deals) in June from $5.4 billion (13 deals) in May. This brought first half 2016 issuance to $26.2 billion (62 deals), which is down sharply from $60.4 billion (115…
Markets at the Midpoint (First of a Series)
“What’s the most depressing holiday?” Suspecting a joke, we hesitated before answering our friend’s query at a backyard barbecue last Saturday. “July 4th,” he said without waiting. Really? “It means the summer is almost over,” he finished glumly. For credit market participants, the year’s too-swift passage also signals 2016’s halfway point – time to reflect…
Chart of the Week: Big Surprise
Attendees at last week’s Fitch/LPC Loan and CLO Conference said Fed’s rate inaction was most surprising market news so far this year. Source: Fitch Ratings and Thomson Reuters LPC Loan and CLO Conference
Covenant Trends: Average Leverage Through the Free and Clear Tranche
Contact: Steven Miller smiller@covenantreview.com
The Pulse of Private Equity – 7/11/2016
IT Remains a Favorite of PE Firms As private equity activity in the U.S. has slackened, nearly every sector has experienced a decline in overall volume of investments, barring one. Only the information technology sector is seeing a rate of PE dealmaking comparable to that of last year, with 261 closed transactions through the end…
Lead Left Interview – Michael Babiarz (Part 2)
This week we conclude our conversation with Michael Babiarz of Clayton, Dubilier and Rice. Michael is a partner of the firm and been with CD&R since 1990. Second of two parts – View part one The Lead Left: How do you view what’s going on with banks from a regulatory perspective? Michael Babiarz: If you look…
Select Deals in the Market – 7/11/2016
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