The Bank of England’s (BoE) revamped quantitative easing (QE) program hit an early snag last week when the central bank failed to source enough gilts on just the second day of purchases. This early setback has caused some to question the impact of the bank’s actions on the corporate bond market, and whether the bank…
HY E&P Trailing 12-month default rate surpasses 31% There was $5.2 billion of U.S. high yield bond default volume in July, pushing the trailing 12-month (TTM) rate to 5.1% from 4.9% at the end of June, according to Fitch Ratings. Halcon Resources Corp.’s long-awaited bankruptcy comprised… Subscribe to Read MoreAlready a member? Log in here...
As we prepared this past weekend to escape the 95°F cauldron of Manhattan for the relief of the 98°F oven in the Outer Banks, our thoughts turned to which industries have proven to be the hottest so far this year. In terms of new issues for middle market sponsored transactions, healthcare has been the most…
More new middle market sponsored deals have been in healthcare this year than any other sector. Source: Thomson Reuters LPC
Contact: Steven Miller smiller@covenantreview.com
This week we chat with Jason Kelly, New York bureau chief, Bloomberg. Jason has been with Bloomberg since 2002. He is the author of Sweat Equity (2016) and The New Tycoons (2012). The Lead Left: Jason, your new book, Sweat Equity, focuses on endurance sports and the fitness industry from the entrepreneur’s perspective. What was the…
Private Debt Investors Target Europe Despite recent lacklustre fundraising activity, the private debt industry continues to attract investors, due to the uncorrelated returns and regular income stream offered by the asset class. Ninety-four percent of private debt investors expect the size of the industry to increase over the next five years, with over a quarter…
What does PE’s capital overhang portend? Through the end of 2015, the private equity industry in North America and Europe had an overhang of no less than $749.4 billion. A plurality of that is concentrated in funds of the 2015 vintage, with a majority—55%—in funds closed in the past two years (funds return data is…
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