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Leveraged Loan Insight & Analysis -12/5/2016

Flex factor highlights investor pushback in November

Flex activity in the U.S. institutional loan market favored investors in November. Thomson Reuters LPC's Flex Factor registered an average flex score of 1.5 last month, signifying a higher ratio of investor friendly changes made to deal terms. It was the first time it has been above one since February's average score of 3.5. In all, 19 deals flexed higher in November against 13 reverse flexes. It was the least amount of reverse flexes in a month since March...

Running Out the Clock

Among the unlikelier events of this post-election season – other than the consideration of former World Wrestling Entertainment executive, Linda McMahon, to be head of the Small Business Administration – has been the confidence with which institutional investors have rotated into leveraged credit. This despite the uncertainty surrounding the future of all sorts of policy…

Lead Left Interview - Mickey Levy (Part 2)

This week we continue our conversation with Mickey D. Levy, chief economist for US and Asia, Berenberg Capital Markets. Mickey is a long-standing member of the Shadow Open Market Committee and conducts research on a wide range of global economic, financial and policy issues.  Second of two parts – View part one TLL: The Fed seems poised…

Chart of the Week: One-Stop Shopping

3Q 2016 was the most active quarter in the past several years for unitranche financings, as middle market sponsors increasingly access the non-bank market.