Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…
Share institutional term loans yielding less than 5% drops to 53% in 2Q17 from 68% in 1Q17 Primary yields, while still at low levels, have inched up so far in April. The average primary yield assuming a three year term to repayment on first-lien institutional tranches is 5.03% so far in April, up from 4.61%…
Ratio Type Distribution for Asset Sale Sweep Step-Downs
This week we continue our conversation with Mitchell Drucker, Managing Director of Garrison Investment Group. Mitch is the head of Garrison’s corporate lending team and is responsible for transaction origination, analysis and execution. He has more than 30 years of experience in the lending business and formerly served in various positions at CIT, presiding over…
☞ Click for a larger image.
Leverage for healthcare and tech issuers was off 1Q for club deals, while rising for service firms and manufacturers.
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
PE moves further into IT, software View PitchBook’s 1Q 2017 US PE Breakdown Report Here Thoma Bravo, Vista Equity Partners and Silver Lake used to be the paramount examples of the few notable PE firms making primarily tech and/or software plays. However, overall investment within the IT industry has grown significantly over the past several…
Private Debt Dry Powder by Geographic Focus While fundraising has been strong in recent years, private debt managers are managing to deploy capital at a similar rate to securing commitments from investors. As such, the level of dry powder has remained relatively constant in recent years, but has risen notably since the end of 2012….