Loan Stats at a Glance – 5/15/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
TheLeadLeft
Markit Recap – 5/8/2017
2017 was widely touted to be the year of volatility. The UK government started the fraught process of leaving the EU, while the Dutch and French elections were scheduled with populist far-right parties riding high in the polls. But here we are, in the middle of Q2 and volatility is at rock bottom. The Markit…
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Debtwire Middle-Market – 5/8/2017
Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield Each year, the Debtwire Mid-Market European Forum charters the course of the rapidly evolving European mid-market leveraged finance space for the rest of the year. Ongoing competition between traditional and institutional lenders, significant dry powder held by debt funds and banks…
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Leveraged Loan Insight & Analysis – 5/8/2017
Lender Survey: Compared to the historical average, loan recoveries will be: Many investors have a wish list for rolling back structural deterioration with, not surprising, bringing back covenants with clean historical EBITDA definition meaning capped add-backs and no inclusion of projected results or cost savings at the top of the list. Although a lower spread…
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Select Deals in the Market – 5/8/2017
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Covenant Trends – Distribution of Free-and-Clear EBITDA Grower (YoY)
Contact: Steven Miller smiller@covenantreview
Elements of Corporate Risk (Last of a Series)
As we wrap up our special series on corporate risk, let’s review the elements we’ve covered. We began with integration risk and high capex. We then examined cyclicality and specialized sectors. Our third part covered short borrower histories, hockey stick growth, single products, and customer concentrations. Technology, regulatory, and legal risks followed that, as well…
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Lead Left Interview – Ted Bililies (Part 2)
This week we continue our conversation with Ted Bililies, Managing Director and Chief Talent Officer for AlixPartners. Ted is a Harvard-trained clinical psychologist with decades of experience in leadership and organization development. Though known originally as a restructuring firm, AlixPartners has grown over the last 35 years into a global consulting firm that specializes in…
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The Pulse of Private Equity – 5/8/2017
Middle-market vehicles hit new high in proportion of all US PE fundraising View PitchBook’s 1Q 2017 US PE Middle Market Report Here Last week the steady recovery in the number and aggregate value of US private equity first-time middle-market funds was analyzed, yielding the conclusion that in light of the slower pace in the raising…
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